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