Derived from TechFlow, over 270 former users of Tokenize Xchange have filed a lawsuit in Singapore's High Court against the platform's founder Hong Qi Yu and his wife Erin Koo, seeking $60.5 million in damages for alleged fraudulent misappropriation of client assets. Tokenize Xchange, a Singapore-based crypto platform operated by AmazingTech, shut down after the Monetary Authority of Singapore rejected its digital payment token license application in July 2025. A court-appointed interim judicial manager reported that AmazingTech owed clients approximately $266.3 million but held only $2.6 million in assets. Singapore authorities are also investigating potential illegal activities, including fraudulent trading, involving AmazingTech and its affiliated entities.
Tokenize Xchange Founder Sued by 270+ Users for $60.5M Over Alleged Misappropriation
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