Since the company was not under any regulation, I don’t think the authorities can get involved in this
How is that even possible to happen in a country like Australia? I remember the case of Cryptopia (NZ exchange) and there was a heavy campaign to refund people (I think that the case is still on) just to prove that there is a law OVER everyone...
But, if this goes through in Australia without authorities' involvement, I can't see the difference between, for example, Chinese exchanges or some from the US... And we know that everyone is throwing stones at Asian companies...
In the end, you are right about the saying “not your keys not your coins” and every hack/scam is another lesson for people to learn how to treat their money...
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