As reported by Chainthink, over 270 former users of Tokenize Xchange have filed a lawsuit against the platform's founder Hong Qi Yu and his wife Erin Koo, seeking $60.5 million in compensation for alleged fraudulent misappropriation of client assets. Tokenize Xchange, a Singapore-based cryptocurrency platform operated by AmazingTech, shut down after the Monetary Authority of Singapore rejected its digital payment token license application in July 2025. The court-appointed interim judicial manager reported that AmazingTech owed clients approximately $266.3 million but held only $2.6 million in assets.
Over 270 Tokenize Xchange Former Users Sue Founders for $60.5M in Alleged Fraud
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