NGS Crypto Companies

ASIC is conducting an investigation into blockchain mining companies NGS Crypto Pty Ltd, NGS Digital Pty Ltd and NGS Group Limited (a company domiciled in Hong Kong) (together, the NGS Companies) and their officers, employees, agents, representatives, or associated entities.

ASIC’s investigation arose from concerns including that:

  • the NGS Companies received funds from Australian investors and those funds may have been improperly dealt with;
  • the NGS Companies may have been operating a financial services business without an Australian Financial Services Licence (AFS Licence).

ASIC will update this webpage when important steps take place in relation to this matter.


Federal Court Proceedings

On 9 April 2024, ASIC applied for interim ex parte orders in the Federal Court to secure the digital assets of the NGS Companies and their directors, Mr Mark Ten Caten, Mr Brett Mendham and Mr Ryan Brown as well as travel restraint orders in relation to Mr Mendham (24-073MR).

ASIC also seeks in the proceeding:

  • Declarations that the NGS Companies have contravened s 911A of the Corporations Act by carrying on a financial services business without an AFSL.
  • Interim and final injunctions against the NGS Companies.

No return date has been scheduled for the proceeding at this stage.

Appointment of receivers

On 10 April 2024, the Federal Court made interim orders that receivers be appointed over the digital assets of the NGS Companies, Mr Mark Ten Caten, Mr Brett Mendham and Mr Ryan Brown. Their role initially is to secure the digital assets for investors.

Anthony Norman Connelly, Katherine Sozou and William James Harris of McGrath Nicol were appointed as receivers and managers.

Information for investors

Next steps for investors

ASIC’s investigation is ongoing.

People wishing to provide information to ASIC are invited contact the investigation team via email at A member of the team will respond as soon as possible.

If you are an investor, you can contact the receivers by email at

General information

ASIC’s Moneysmart provides more information about Investment scams and what to do if you’ve been scammed.

Last updated: 16/04/2024 02:00