Blockchain Global
Blockchain Global was an Australian cryptocurrency and blockchain business that evolved from bitcoin mining into digital-asset exchange and incubation activities before entering administration and liquidation.
Last updated August 31, 2026
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Overview
Blockchain Global was an Australian cryptocurrency and blockchain company headquartered in Melbourne. It began in 2014 under the name Bitcoin Group as a bitcoin-mining venture founded by Sam Lee, Allan Guo and Vincent Vu. Its early operations extended across Australia, China and Thailand, and by September 2015 the business reported seven mining locations and approximately 6.2 petahashes of computing capacity, representing about 15.7% of global hash power according to the company material cited in contemporary reporting. The company attempted to become publicly listed on the Australian Securities Exchange. Its proposed initial public offering was delayed by regulatory intervention and requests for additional independent reporting. Although the offer eventually closed in January 2016 after raising approximately A$5.9 million, well below the intended A$20 million, the proposed listing was withdrawn in March 2016 after the ASX concluded that the company’s liquidity was insufficient. Subscribers were refunded. The failed listing was an early indication of the difficulty of financing a rapidly changing cryptocurrency-mining business through conventional public markets. In August 2016, Bitcoin Group adopted the Blockchain Global name to reflect a broader strategy involving blockchain consulting, business incubation and digital-asset infrastructure. The company subsequently developed ACX.io, a cryptocurrency exchange platform. In February 2017 it agreed with Digital X to take over the function of Digital X Direct, another blockchain exchange platform. Blockchain Global also discussed a possible combination with the United States-based blockchain company BTCS in 2017, although the proposed transaction was delayed and did not become a completed merger. The company’s exchange business later became the focus of serious operational and legal problems. ACX ceased operating abruptly in late 2019, leaving customers unable to access assets held through the platform. A dispute involving 117 bitcoins, reportedly connected to a hard drive and disagreements among Sam Lee, Allan Guo and Jin Chen, became the subject of court proceedings. In September 2021, the Supreme Court of Victoria ordered the relevant individuals and entities not to dispose of the disputed bitcoins. Blockchain Global entered voluntary administration in October 2021 with reported creditor claims of approximately A$21 million. Liquidators were appointed in February 2022. Subsequent liquidator reporting described a substantially larger creditor shortfall, estimated at about US$37 million as of October 2023. The Australian Securities and Investments Commission began investigating the operation of ACX Exchange in January 2024. Related proceedings and travel restrictions affected former and current directors and executives. In May 2025, ASIC announced proceedings against former director Liang Guo, alleging breaches of director duties connected with the operation and collapse of ACX Exchange. In October 2025, an Australian federal court reportedly restricted director Ryan Xu from leaving Australia until December 20 while ASIC pursued related orders. Blockchain Global is therefore best understood as a defunct Australian crypto-industry company rather than a continuing consumer brand. Its history illustrates the transition from bitcoin mining to exchange infrastructure, the challenges of early cryptocurrency regulation and financing, and the legal and creditor consequences that followed the collapse of its exchange operations.
History
Blockchain Global originated in 2014 as Bitcoin Group, a bitcoin-mining business established by Sam Lee, Allan Guo and Vincent Vu. The company developed mining operations in Australia, China and Thailand. By September 2015 it reported seven sites and approximately 6.2 petahashes of computing power, which the company described as roughly 15.7% of global hash power at the time. It also participated in Australian policy discussions, submitting views to the Senate Economics References Committee during its inquiry into digital currencies. Bitcoin Group announced plans for an ASX initial public offering in October 2014. The listing process was delayed by two ASIC stop orders and a requirement for an independent expert report. The company ultimately closed an offering in January 2016 after raising approximately A$5.9 million against a stated target of A$20 million. In March 2016 it withdrew the offer and refunded subscribers after the ASX assessed the company’s liquidity as inadequate. The company disputed aspects of the required capital analysis, arguing that the report did not sufficiently reflect the anticipated effect of bitcoin’s July 2016 block reward halving on prices. In August 2016 the company changed its name to Blockchain Global. The rebrand accompanied a shift from a predominantly mining-oriented identity toward blockchain consulting, business incubation and digital-asset infrastructure. In 2016 the company reported revenue of approximately US$4.4 million. It developed ACX.io, a blockchain and cryptocurrency exchange platform, and in February 2017 reached an agreement with Digital X to assume the operating function of Digital X Direct. In July 2017 the company reportedly held around US$3.5 million in bitcoin and cash. A possible merger with BTCS was announced in August 2017 but was delayed by early 2018. The exchange strategy ultimately produced the company’s central crisis. ACX ceased operations abruptly in late 2019, leaving customers unable to access assets. Sam Lee stepped down as a director during 2019 but returned as chief executive in April 2020. By 2021, a dispute concerning 117 bitcoins had become a major legal issue. The coins were reportedly held on a hard drive amid a conflict involving Lee, Guo and Jin Chen. In September 2021, the Supreme Court of Victoria ordered the named individuals and companies, including Blockchain Global and ACX Tech, not to sell or dispose of the bitcoins. Blockchain Global entered voluntary administration in October 2021. The company reportedly owed about A$21 million to creditors at that point. Liquidators were appointed on February 11, 2022. Later liquidator reporting placed creditor claims at approximately US$37 million as of October 2, 2023. ASIC began investigating the company’s operation of ACX Exchange in January 2024. Travel-restriction proceedings followed, including a restraint affecting Liang Guo that was later lifted, after which he left Australia in September 2024. In May 2025, ASIC announced proceedings against Guo alleging breaches of director duties. In October 2025, the Federal Court reportedly restricted director Ryan Xu from leaving Australia until December 20 in connection with ASIC’s application. The available record ends with Blockchain Global in liquidation and its former operations subject to regulatory and court scrutiny. The company’s trajectory—from mining, through attempted public financing and exchange development, to exchange failure and insolvency—reflects the volatility and governance risks associated with early cryptocurrency businesses.
- 2025
ASIC commences proceedings against Liang Guo
[1]ASIC announces a case alleging that former director Liang Guo breached director duties in connection with ACX Exchange and the company’s collapse.
- 2024
ASIC investigation begins
[1]ASIC begins investigating the company’s operation of ACX Exchange after a liquidator report.
- 2022
Liquidators are appointed
[1]Liquidators are appointed on February 11.
- 2021
Court restrains disposal of disputed bitcoins
[1]The Supreme Court of Victoria issues orders concerning 117 bitcoins connected with a dispute involving Blockchain Global and related individuals.
- 2021
Voluntary administration begins
[1]Blockchain Global enters voluntary administration with reported creditor claims of approximately A$21 million.
- 2019
ACX Exchange stops operating
[1]ACX.io ceases operations abruptly, leaving customers unable to access assets.
- 2017
Digital X Direct arrangement
[1]Blockchain Global agrees to take over the operating function of Digital X’s blockchain exchange platform, Digital X Direct.
- 2017
BTCS merger proposal announced
[1]A potential merger between BTCS and Blockchain Global is announced, but the transaction is delayed and not completed in the cited record.
- 2016
IPO offer is withdrawn
[1]After raising approximately A$5.9 million, the proposed ASX listing is withdrawn and subscribers are refunded.
- 2016
Bitcoin Group becomes Blockchain Global
[1]The company adopts the Blockchain Global name as it broadens its stated focus beyond mining.
Products and positioning
Blockchain Global positioned itself as a blockchain-focused technology and investment business that combined cryptocurrency mining, exchange infrastructure, consulting and incubation. Its repositioning from Bitcoin Group to Blockchain Global was intended to broaden the company beyond mining into a wider blockchain-services platform.
Cryptocurrency mining · 2014
Bitcoin mining operations
The company’s original business was bitcoin mining under the Bitcoin Group name. Its reported network included facilities in Australia, China and Thailand, with seven locations and approximately 6.2 petahashes of capacity by September 2015. Mining provided the operational and commercial foundation for the later Blockchain Global identity.
Cryptocurrency exchange
ACX.io
ACX.io was the exchange platform developed and operated within Blockchain Global’s digital-asset strategy. It was intended to provide cryptocurrency trading and asset-handling infrastructure. The platform ceased operating abruptly in late 2019, after which customers reported being unable to access assets.
Blockchain exchange infrastructure · 2017
Digital X Direct functions
In 2017 Blockchain Global agreed with Digital X to take over the operating function of Digital X Direct, a blockchain exchange platform. The arrangement formed part of Blockchain Global’s attempt to expand from mining into digital-asset exchange services.
Controversies
2025
ASIC proceedings against former director
ASIC sued former director Liang Guo, alleging breaches of duty connected with the operation and collapse of ACX Exchange.
2024
ASIC investigation into ACX operations
ASIC began investigating the company following a liquidator report that described creditor claims of approximately US$37 million as of October 2023.
2021
Dispute over 117 bitcoins
A dispute involving 117 bitcoins held on a hard drive led to Victorian Supreme Court orders preventing Blockchain Global, ACX Tech and several individuals from disposing of the coins.
2021
Administration and creditor collapse
Blockchain Global entered voluntary administration with reported debts of approximately A$21 million and was later placed into liquidation.
2019
ACX Exchange collapse
ACX.io stopped operating abruptly, and customers were unable to access assets held through the platform.
Brand decisions
2017
Agreement concerning Digital X DirectM&ABackground
Blockchain Global was expanding from mining into cryptocurrency exchange infrastructure.
Action taken
The company agreed with Digital X to take over the operating function of Digital X Direct.
Aftermath
The arrangement strengthened Blockchain Global’s exchange-oriented strategy, which later centered on ACX.io.
2017
Proposed combination with BTCSM&ABackground
Blockchain Global and BTCS explored a potential corporate combination during the cryptocurrency market’s expansion.
Action taken
The parties announced a possible merger.
Aftermath
The transaction was delayed by early 2018 and is not identified as completed in the cited material.
2016
Rebrand from Bitcoin Group to Blockchain GlobalStrategyBackground
The company sought to broaden its identity beyond bitcoin mining into consulting, incubation and blockchain-related infrastructure.
Action taken
Bitcoin Group adopted the Blockchain Global name in August 2016.
Aftermath
The new identity accompanied development of exchange activities, including ACX.io, but did not prevent the later collapse of the exchange business.
2016
Withdrawal of proposed ASX initial public offeringOtherBackground
The company’s offering raised materially less than its target, and the ASX assessed its liquidity as insufficient.
Action taken
Blockchain Global’s predecessor withdrew the offering and refunded subscribers.
Aftermath
The company remained privately held and continued operating outside the ASX market.
IPO proceeds raised. A$20 million target → Approximately A$5.9 million raised (Offer closed January 25, 2016; withdrawal in March 2016)
Sources2 sources
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