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      Singapore Court Freezes Assets of Tokenize Xchange Founder and Ex-Wife

      The Singapore High Court has issued an asset freeze order against Hong Qi Yu, the former CEO and founder of the cryptocurrency exchange Tokenize Xchange, and his ex-wife Erin Koo. The court has frozen nearly SGD 53 million in assets, which corresponds to claims made by 249 former customers involved in a lawsuit against the couple. This injunction prohibits them from selling, transferring, or otherwise diminishing the value of the frozen assets.

      During a hearing on September 28, presided over by Judge Mohamed Faizal, Hong Qi Yu and Erin Koo were unable to lift the injunction. Both individuals, who are 36 years old, are facing significant legal challenges following the collapse of Tokenize Xchange, which has raised concerns among its former customers regarding the recovery of their funds.

      Hong Qi Yu has publicly denied being the sole decision-maker behind AmazingTech, the entity that operated Tokenize Xchange. The ongoing legal proceedings highlight the complexities and risks associated with the cryptocurrency industry, particularly in the wake of exchange failures.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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