According to BlockBeats, Australian cryptocurrency company NGS Crypto has been renamed to “Hiddup.” The rebranding comes as the company is currently under investigation and legal action by the Australian Securities and Investments Commission (ASIC).

On June 25, NGS Crypto stated that the reason for its rebranding was due to a trademark dispute. This happened during the case brought by ASIC against the company over investor interest arrears of approximately A$61 million (US$41 million).

In April this year, the assets of the company's directors Mark Ten Katen, Brett Mendham and Ryan Brown were frozen, as well as the company's funds. The renaming of NGS Crypto to Hiddup is seen as an important development in the ongoing legal proceedings.