The Singapore court freezes the assets of Tokenize Xchange founder and ex-wife

According to The Business Times, Hong Qi Yu, the former CEO and founder of the collapsed cryptocurrency exchange Tokenize Xchange, and his ex-wife Erin Koo, have had nearly SGD 53 million in assets frozen under a court asset freeze order. This amount corresponds to the total claims made by 249 former customers in the lawsuit.

The injunction prohibits the two from selling, disposing of, transferring, mortgaging, pledging, or otherwise diminishing the value of the related assets. The couple, both 36 years old, failed to lift the injunction during a hearing presided over by Judge Mohamed Faizal at the Singapore High Court on September 28, and the injunction remains in effect. Hong Qi Yu denies being the sole decision-maker and driving force behind AmazingTech, the operating entity behind Tokenize.