TechFlow news, according to Cointelegraph, Australian crypto company NGS Crypto has rebranded to Hiddup amid an investigation and legal proceedings by the Australian Securities and Investments Commission (ASIC). The recent name change is reportedly due to a trademark dispute. ASIC alleges that NGS Crypto and its related entities provided financial services without holding an Australian Financial Services Licence, involving approximately 61 million Australian dollars (about 41 million U.S. dollars).
Currently, the assets of the company's directors have been frozen, and the court has appointed McGrathNicol as receiver to assist creditors in recovering funds. Despite ongoing legal issues, Hiddup continues to advertise blockchain mining returns of 6% to 16% per year on its website.
