Singapore Court Freezes Nearly S$53 Million Assets of Tokenize Xchange Founder and Ex-Wife

A Singapore court has frozen nearly S$53 million in assets belonging to Hong Qi Yu, the founder of the defunct cryptocurrency exchange Tokenize Xchange, and his ex-wife Erin Koo, following an asset freeze order. This amount corresponds to the total claims made by 249 former clients in a lawsuit. The injunction prohibits the two from selling, disposing of, transferring, mortgaging, pledging, or otherwise diminishing the value of the related assets. The pair failed to lift the injunction during a hearing at the Singapore High Court on September 28, and the order remains in effect. Hong Qi Yu denies being the sole decision-maker and driving force behind AmazingTech, the operating entity behind Tokenize.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.