Tokenize Xchange
TKXThe full report. Score, pillars, arithmetic, risk, scenario, signal and notes.
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About Tokenize Xchange
Analysis of 10 Jul 2026Tokenize Xchange (TKX) was a Singapore-based cryptocurrency exchange token that collapsed in July 2025 following regulatory denial and alleged fraud. The exchange ceased operations after the Monetary Authority of Singapore (MAS) denied its license application.
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Court-appointed judicial managers revealed the company owed $266.3 million (S$266.3M) to customers while holding only $2.6 million in assets, representing a 99% shortfall. The company was formally wound up by Singapore High Court on September 30, 2025, with judicial managers appointed as liquidators.
In November 2025, 272 users filed a collective lawsuit seeking $60.5 million in damages against founder Hong Qi Yu and his wife Erin Koo Kee Hoon (former COO) for fraudulent misrepresentation and fund misappropriation. Criminal charges were filed on July 31, 2025 under Section 238(4) of Singapore Insolvency Act with police investigations ongoing.
As of June 2026, both criminal and civil proceedings remain pending with no verdict or resolution. The token trades at approximately $1.35 with minimal daily volume of $2,642 on decentralized exchanges (down from $3,260 in May), representing purely speculative activity with no fundamental backing or recovery prospects.