Assets of Tokenize Xchange founder and his ex-wife frozen by court order
Hong Qi Yu and Erin Koo are being sued by 249 ex-customers of the defunct crypto trading platform
[SINGAPORE] Hong Qi Yu, former CEO and founder of the entity behind the now-defunct cryptocurrency trading platform Tokenize Xchange, and his ex-wife have had up to almost S$53 million of their assets frozen under a Mareva injunction.
The sum is the total amount being claimed in a suit by nearly 250 former customers who had used the trading platform.
The injunction, which bars them from selling, disposing of, transferring, mortgaging, pledging or diminishing the value of their assets, stays in force after the Malaysian couple, both aged 36, failed to set it aside at the Sep 28 hearing before Justice Mohamed Faizal in a Singapore High Court.
