Australian cryptocurrency firm NGS Crypto has rebranded to 'Hiddup' amidst an investigation by the Australian Securities and Investments Commission (ASIC). The rebranding, reportedly due to a trademark dispute, coincides with ASIC's legal action over $41 million owed to investors. ASIC's lawsuit targets three crypto mining companies linked to NGS, accusing them of violating financial laws. The Federal Court has appointed McGrathNicol as receivers to aid in fund recovery. Despite legal challenges, Hiddup continues to promote blockchain mining with fixed returns. The company's directors face asset freezes and passport seizures as authorities search for the missing funds. NGS Super, a separate entity, has taken legal action against NGS Crypto for copyright infringement. The rebranding to Hiddup aims to address trademark issues and differentiate the business. ASIC is closely monitoring the situation, emphasizing the need for proper licensing in financial services. Read more AI-generated news on: https://app.chaingpt.org/news