Popular crypto retirement company abruptly shut down during Christmas
Christmas week was good for most people, but for hundreds of crypto investors, it ended with a court-ordered shutdown.
An Australian court has shut down NGS Crypto, a digital asset company that marketed itself as a crypto-based retirement solution, after liquidators recovered just $4.4 million of an estimated $40 million invested by the public.
The Federal Court order, issued during Christmas week, followed findings that the Gold Coast–linked group operated an unlicensed financial services business and posed what the court described as a serious risk to investors, reported The Australian.
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NGS Crypto promoted what it called “digital…
