Add as a preferred source on GoogleSingapore Court Freezes Tokenize Xchange Founder's Assets
The Mareva injunction covers nearly S$53 million as 249 former customers pursue claims against Hong Qi Yu and Erin Koo Kee Hoon.
A Singapore High Court has frozen assets worth up to nearly S$53 million belonging to Tokenize Xchange founder Hong Qi Yu and his former wife, Erin Koo Kee Hoon, in a case brought by former customers of the crypto exchange.
The Mareva injunction bars Hong and Koo from selling, transferring, mortgaging, pledging or otherwise reducing the value of covered assets. They failed to overturn the order at a Sept. 28 hearing before Justice Mohamed Faizal.
The representative action involves 249 former Tokenize Xchange customers seeking nearly S$53 million over allegations of fraudulent misrepresentation and conspiracy. The case began with 272 claimants seeking S$60.5 million in November 2025, before 23 withdrew.
The allegations have not been proven in court. Koo has denied involvement in the alleged conduct and said her former chief operating officer role at AmazingTech was nominal.
AmazingTech operated Tokenize Xchange and was later wound up by the Singapore High Court. Hong was charged with fraudulent trading on July 31, 2025, while the company was under investigation by Singapore police.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.