Over 270 former users of Tokenize Xchange have filed a lawsuit against the platform's founder, Hong Qi Yu, and his wife, Erin Koo, seeking $60.5 million in damages for alleged fraudulent misappropriation of customer assets. Tokenize Xchange, a Singapore-based cryptocurrency platform operated by AmazingTech, shut down after the Monetary Authority of Singapore denied its digital payment token license application in July 2025. A court-appointed interim judicial manager reported that AmazingTech owes approximately $266.3 million to customers but holds only $2.6 million in assets. The lawsuit highlights significant financial discrepancies and seeks accountability from the platform's leadership.