The Federal Court of Australia recently issued an important ruling: multiple blockchain mining companies such as NGS Group and NGS Crypto were found to be operating illegally due to unlicensed operations and unregistered investment schemes. This lawsuit involved over 450 investors and approximately 59 million in funds.



This case reflects a phenomenon—many mining companies solicit retail investors under the guise of "high returns" but lack the necessary financial licenses and investment plan registration. For investors, this is a profound lesson: no matter how attractive the mining profit promises are, always verify whether the operator is licensed and whether the investment plan is compliant. The court's ruling in Australia indicates that even in regions with relatively lenient regulation, unlicensed operations still face legal consequences. This serves as a reference for mining investors worldwide—regulatory compliance checks should always be the first step before choosing platforms and participating in projects.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • Repost
  • Share
Comment
0/400
DegenGamblervip
· 2h ago
Another thunderstorm scene, 59 million, brothers... This is the price of greed
View OriginalReply0
TokenVelocityvip
· 2h ago
Another explosion case, this time Australia can't hold on anymore.
View OriginalReply0
RunWithRugsvip
· 2h ago
Another unlicensed mining failure... Really, I just want to curse when I see this kind of news. Over 450 people were scammed, it's truly outrageous.
View OriginalReply0
LightningClickervip
· 2h ago
Another scandal of unlicensed mining, over 450 investors paid tuition fees for nothing.
View OriginalReply0
LightningPacketLossvip
· 3h ago
Another unlicensed mining operation has been shut down, retail investors have to pay tuition again.
View OriginalReply0
PhantomMinervip
· 3h ago
Oh no, another unlicensed mining scheme collapses, over 450 people got scammed. This time, the Australian court finally took action. Really, whenever I see this kind of news, I just want to complain. The promises of high returns are more and more outrageous, and upon investigation, there are no licenses at all. How come so many people still rush in? This crash was long overdue. By the way, this serves as a wake-up call for miners worldwide. Next time you see some miraculous project, just ask, "Do you have a license?" It's really not that hard.
View OriginalReply0
SchroedingerGasvip
· 3h ago
Another illegal scheme, over 450 people were scammed. This time, the Australian court finally took action.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)