Australia's ASIC: Former cryptocurrency exchange Mine Digital CEO charged with fraud

ChainCatcher news, according to Jin10, Grant Colthup, the former CEO of the Australian cryptocurrency exchange Mine Digital, is facing a fraud charge for allegedly stealing $1.47 million (2.2 million AUD) from a client who had attempted to convert funds into Bitcoin.

The Australian Securities and Investments Commission (ASIC) stated in a release on October 21 that a Mine Digital customer paid $1.5 million to ACCE Australia but never received the cryptocurrency.

ASIC alleges that Colthup either used these funds to repay ACCE's debts, purchased cryptocurrency for others, or both.