Grant Colthup, the former CEO of the Australian cryptocurrency exchange Mine Digital, has been charged with fraud by the Australian Securities and Investments Commission (ASIC). The charges stem from allegations that he misappropriated $1.47 million from a customer who intended to exchange funds for Bitcoin. This incident reportedly occurred shortly before the exchange's collapse in September 2024. ASIC claims that the funds were diverted to cover the company's debts, leaving the customer without the promised Bitcoin. Additionally, Colthup is implicated in a separate case involving $2.2 million in missing Bitcoin, which has raised further concerns about his management of the platform.