According to TechFlow, cointelegraph reported that the Australian crypto company NGS Crypto changed its name to Hiddup during the investigation and legal proceedings by the Australian Securities and Investments Commission (ASIC). It is reported that the company recently changed its name to "Hiddup" due to a trademark dispute. ASIC accused NGS Crypto and its affiliates of providing financial services without holding an Australian financial services license, involving an amount of approximately A$61 million (approximately US$41 million).
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 the legal issues, Hiddup is still advertising annual blockchain mining returns of 6% to 16% on its website.