Australia's ASIC charges former CEO of cryptocurrency exchange Mine Digital with stealing $1.47 million from clients

Odaily News Grant Colthup, the former CEO of Australian cryptocurrency exchange Mine Digital, is facing a fraud charge for allegedly stealing $1.47 million (AUD$2.2 million) from a customer. In a statement on October 21, the Australian Securities and Investments Commission (ASIC) said the customer paid $1.5 million to ACCE Australia but never received the exchanged Bitcoin. ASIC alleges that Colthup either used the funds to pay ACCE's debts, buy cryptocurrencies for others, or both. This is the latest allegation against the company, which collapsed in September 2022. Since then, creditors have sought to recover $16 million from the company. ASIC said Grant Colthup was informed of the fraud charges at a hearing at the Ipswich Magistrates Court in Queensland, Australia on October 21, and the case against Colthup has been adjourned to December 16, 2024. (Cointelegraph)