2025-12-30 01:02:49

The Federal Court of Australia recently made a ruling, determining that NGS Group and its affiliated companies, including NGS Crypto, involved in multiple blockchain mining enterprises, have committed serious violations—operating without licenses and running unregistered investment schemes.

This case has a significant impact. It involves over 450 investors with a total investment of approximately 59 million (specific units may need to be clarified). This is not a minor violation but a systemic issue affecting hundreds of families and tens of millions in funds.

For investors in mining and staking products, this serves as a warning. Many newcomers are attracted by "high returns" but overlook the underlying compliance boundaries. Even if a mining company promises daily returns and boasts advanced technology, without proper financial licenses and registered investment plans, it essentially operates in a legal gray area, walking a tightrope.

What does this Australian case illustrate? Regulatory authorities are increasingly scrutinizing crypto financial products. Whether it’s mining, staking, or other innovative offerings, as soon as fundraising and investment promises are involved, they must adhere to financial regulatory frameworks. This trend is spreading globally.

For investors: Before trusting return promises, ask three questions—Does this platform have a local financial license? Has the investment plan been registered with regulatory authorities? How are legal risks managed?

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GasWastingMaximalist

· 6h ago

Another crash site, 4,500 people lost 59 million... This is why I never touch unlicensed mining projects. What’s the use of just promising high returns? In the end, it still ends up in court. So, no matter how advanced the technology is, it needs regulatory protection. Knowing it's in a legal gray area and still jumping in—what is this if not a gambler’s mentality? Over 50 million, this money could change many families’ lives... Why are so many still betting on unlicensed platforms? Greed really can lead to losses. Australia dares to take action, other countries will follow—it's only a matter of time. Licensed = I can sleep peacefully; unlicensed = I count sheep until dawn. NGS is completely socially dead now, right? This is the real risk education lesson—more effective than any white paper.

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SnapshotBot

· 6h ago

450 people, 59 million yuan, this scale... is really a textbook-level pump-and-dump. NGS has directly tarnished all mining projects this time. Now, anyone who dares to claim daily earnings as the top response just feels there's a scam. I just want to ask, why are there still people throwing money without checking licenses? Isn't that common sense? If Australia dares to take action, other countries should follow suit; otherwise, these projects will just move somewhere else to continue the scam. Licenses, registration, risk control... If these three lines can't be maintained, how can they still do investment products? That's utterly outrageous. No license means no license. There's no such thing as a gray area, right? Now, it's all good—another bunch of people's savings will be wiped out. It’s really upsetting. So the current question is—how to distinguish between truly licensed and fake licensed? That's the key, right? NGS investors right now... I can't even imagine how they feel...

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ForkItAll

· 6h ago

It's another unlicensed mining operation, and 59 million just disappeared. Why are people still jumping in? That high-yield scam has deceived so many people, it's outrageous. How many times do I have to say that licenses are important? Still, some people don't listen. Staking mining requires proper qualifications. This time, Australia's slap in the face was quite harsh. Daring to accept money without a license or registration, just waiting to be investigated. 450 people lost 59 million. That's some boldness. Tighter regulation is inevitable. These pitfalls in the crypto world should have been addressed long ago. Looks like someone is defending NGS again in the comments... Operating in legal gray areas is risky; you might get burned. Serves you right. Who's next? Can't afford to gamble.

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PseudoIntellectual

· 6h ago

The 59 million is gone just like that. 450 families are crying and fainting in the bathroom.

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ser_we_are_ngmi

· 6h ago

450 people, 59 million? Oh my, this is the real rug... The importance of having a license is truly underestimated.

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LiquidatedNotStirred

· 6h ago

450 people, 59 million... This is the price of greed. The dream of high returns is always the easiest to wake up from.

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SandwichVictim

· 6h ago

450 people, 59 million... That's why I never touch unlicensed mining rigs again. Chasing daily profits, only to wake up and find everything back to square one. Licensing, registration, risk bearing—these three questions must all be answered; otherwise, it's gambling.

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