Singapore Court Keeps Nearly S$53 Million Freeze on Tokenize Pair

Singapore’s High Court has kept an asset-freezing order covering up to nearly S$53 million in assets linked to Tokenize Xchange founder Hong Qi Yu and his former wife, Erin Koo, as 249 former customers pursue claims tied to the collapsed exchange.

The amount matches the total claims filed in the litigation. The order prevents Hong and Koo from selling, transferring, pledging, mortgaging or otherwise reducing the value of the covered assets.

Both are 36-year-old Malaysians. They failed to overturn the order at a Sept. 28 hearing presided over by Justice Mohamed Faizal.

Hong has denied being the sole decision-maker and driving force behind AmazingTech, the entity that operated Tokenize Xchange. The asset-freezing order continues in effect.