Tokenize Exchange Liquidator Update on 26 February 2026

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2026/02/26/tokenize-exchange-liquidator-update-on-26-february-2026/

Disclaimer: This post is just for educational sharing purposes. Please do your own due diligence on any products mentioned in this post.

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The last email update from KordaMentha (Liquidators) was sent on 2 December 2025. It had been a period of silence for more than 2 months until today (26 February 2026) where I received the first email update of the year from them at 5:43pm:

This email informed us that they are filing an application to commence winding up proceedings against the holding company Tokenize Exchange Holding (TKXH).

This liquidation application is necessary because they have uncovered transactions between ATPL (the operator of Tokenize Exchange) and TKXH, where there is a net debt of S$5,610,699.93 from TKXH to ATPL.

So the Liquidators had issued a statutory demand on 16 Februray 2026 demanding TKXH and Hong Qi Yu (CEO of Tokenize Exchange) to pay back the debt within 21 days. Both parties haven't responded to the demand as of the date of this notice.

The Liquidators' view is to place TKXH into a Court supervised liquidation in order to maximize the chance of recovering the debt.

The investors are given up to 6 March 2026 12pm to state our position. The Liquidators will update the Court if no objections are received from the investors by the deadline.

I don't think any investor will object to this debt recovery application. I won't.