[Singapore Tokenize Xchange Founder Sued, Users Claim $60.5 Million] Over 270 former users of Tokenize Xchange have filed a lawsuit in the Singapore High Court against the platform's founder, Hong Qi Yu, and his wife, Erin Koo, accusing them of fraudulently misappropriating customer assets and claiming $60.5 million in damages. Tokenize Xchange, operated by AmazingTech, was shut down after the Monetary Authority of Singapore rejected its application for a digital payment token license in July 2025. According to a report by the interim judicial manager, AmazingTech owes customers approximately $266.3 million but holds only $2.6 million in assets. Singapore authorities are investigating potential illegal activities involving AmazingTech and its related entities, including fraudulent transactions.