According to BlockBeats, Australian cryptocurrency company NGS Crypto has been renamed as 'Hiddup'. The rebranding comes as the company is currently under investigation and legal proceedings by the Australian Securities and Investments Commission (ASIC).
On June 25, NGS Crypto stated that the reason for their rebranding was due to a trademark dispute. This occurred during the ASIC's case against the company for approximately AUD 61 million (USD 41 million) in investor interest arrears.
In April of this year, the assets of the company's directors Mark Ten Caten, Brett Mendham, and Ryan Brown, as well as the company's funds, were all frozen. The renaming of NGS Crypto to Hiddup is seen as a significant development in the ongoing legal proceedings.