Tokenize Xchange / AmazingTech Pte Ltd
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anchored·55t6aq…PQwgSummary
Tokenize Xchange was a Singapore-based cryptocurrency exchange operated by AmazingTech Pte Ltd (ATPL). After the Monetary Authority of Singapore (MAS) rejected its Major Payment Institution licence application on 4 July 2025 and ordered it to cease operations, court-appointed interim judicial managers found the company owed customers approximately S$266.3 million while holding only S$2.6 million in realisable assets — a shortfall exceeding 99%. Founder and director Hong Qi Yu has been criminally charged with fraudulent trading under Singapore's Insolvency, Restructuring and Dissolution Act 2018, and he and his wife and former COO Erin Koo Kee Hoon face a civil representative action brought by 272 former customers seeking S$60.5 million in damages.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(12 events)
1 January 2019
Tokenize Technology (M) Sdn Bhd (later KDX) registered as one of Malaysia's first three licensed Digital Asset Exchange operators.
Fintech News Malaysia4 July 2025
MAS rejected ATPL's Major Payment Institution licence application and ended the Payment Services Act exemption. ATPL ordered to cease payment services and wind down operations.
MAS Media Release1 July 2025
MAS received multiple customer complaints about delays in withdrawals from Tokenize Xchange.
Linklaters Financial Regulation31 July 2025
Hong Qi Yu, director of ATPL, charged in Singapore court with fraudulent trading under Section 238(4) of the Insolvency, Restructuring and Dissolution Act 2018.
MAS Media Release / Caproasia1 August 2025
MAS publicly announced it had referred ATPL to the Commercial Affairs Department (CAD) for criminal investigation.
MAS Media Release4 August 2025
KDX (Tokenize Malaysia) publicly distanced itself from Tokenize Xchange Singapore, stating it operates independently and is fully licensed.
Fintech News Malaysia15 August 2025
ATPL placed under interim judicial management following a creditor petition.
24crypto.news9 September 2025
Court-appointed interim judicial managers reported to the High Court that ATPL owed customers approximately S$266.3 million as of 15 August 2025, against S$2.6 million in realisable assets. 2,241 customers had lodged claims.
Caproasia24 September 2025
Singapore parliament informed that the Tokenize Xchange collapse had left more than S$266 million in customer funds in limbo.
Fintech News Singapore28 November 2025
272 former customers filed a representative civil action in Singapore's High Court against Hong Qi Yu and Erin Koo Kee Hoon, seeking S$60.5 million in damages for alleged fraudulent misrepresentation and misappropriation of customer funds.
Mothership / CryptoTimesDecision Log
- hash: FKtMkTGjPd5yeEDeu6RQ9RuVTGBP4tBhpVMvXy7kPCeN
This investigation is cryptographically anchored to the Solana blockchain (1 event). 15 of 16 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/22/2026, 12:05:45 PM
last updated: 9/22/2026, 4:59:10 PM
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