Victoria police were asked to look at HyperVerse information in 2020 – but sent case back to Asic 22 months later

Australia’s corporate regulator referred information about HyperVerse to Victoria police, but nearly two years later the matter was transferred back to Asic with no action taken. Composite: Guardian design/Getty images

Australia’s corporate watchdog referred information about the alleged US$1.89bn “Ponzi scheme” known as HyperVerse to Victoria police in 2020, only for it to be referred back almost two years later without any action being taken.

The Australian Securities and Investments Commission made the referral to Victoria police for alleged “possible fraud offences” after concerns were raised with the corporate regulator about a related company, Blockchain Global. Asic did not provide detail on what prompted the referral.