TL;DR
Tokenize Xchange, operated by AmazingTech Pte Ltd, collapsed after regulators confirmed massive asset shortfalls exceeding S$200 million. More than 270 users are now suing the founders, while Singapore authorities investigate potential fraud. If you lost funds, do not wait — evidence recovery is time-sensitive.
Introduction
If you’re researching Tokenize Xchange, chances are you’re worried — about missing withdrawals, frozen balances, or a platform that suddenly went silent. You’re not alone. In 2025, what was once marketed as a regulated Singapore crypto exchange collapsed under the weight of one of the largest customer asset shortfalls in the region’s recent history.
Tokenize Xchange, operated by AmazingTech Pte Ltd, is now under formal investigation by Singapore authorities. Court filings and judicial management reports reveal a devastating gap between what customers were owed and what actually remained. Hundreds of users are affected, and lawsuits are already underway.
This review is written for victims, skeptical investors, and anyone asking:
Is Tokenize Xchange legit?
What really happened to customer funds?
Can stolen crypto from Tokenize be recovered?
At Melmac Solutions, we analyze verified evidence — not rumors — and outline real recovery pathways. Below is the full breakdown of Tokenize Xchange’s collapse, the warning signs that surfaced before shutdown, and what affected users should do right now.
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What Is Tokenize Xchange?
Company: AmazingTech Pte Ltd
Primary Domain:
tokenize.exchangeLocation Claimed: Singapore
Regulatory Status: Formerly exempt under Singapore’s Payment Services Act (exemption later lapsed)
Core Services:
Crypto spot trading
Token listings
Fiat on/off-ramps
Custodial wallet services
Tokenize marketed itself as a fully compliant Singapore exchange and gained early trust by operating during the transitional exemption phase of Singapore’s crypto regulations. Many retail and high-net-worth users deposited significant balances under the assumption of regulatory safety.
That assumption proved catastrophic.
Timeline of the Collapse
Early 2024–Mid 2025: Users begin reporting delayed and partial withdrawals.
Mid-2025: Monetary Authority of Singapore (MAS) formally rejects AmazingTech’s license application.
Aug 2025: Singapore Commercial Affairs Department (CAD) opens a fraud investigation.
Oct 2025: Judicial managers appointed to recover remaining assets.
Late 2025:
Reports confirm customer liabilities between S$205–266 million
Available assets estimated at ~S$2–2.6 million
Over 270 customers file civil claims against the founders
This is no longer a rumor-based failure — it is a court-documented financial collapse.
Key Offerings (Before Shutdown)
Spot crypto trading pairs (BTC, ETH, altcoins)
Fiat deposits via Singapore banking rails
Internal custodial wallets
Token listings and “launch” opportunities
OTC and institutional services for large clients
Critically, most customer funds remained custodially controlled by Tokenize, meaning users did not hold private keys to their stored assets.
Red Flags That Emerged Before the Collapse
Long withdrawal delays masked as “system maintenance”
Repeated changes to withdrawal policies
Silence from customer support
No published proof-of-reserves audits
Heavy reliance on exemption status rather than full licensing
Sudden removal of staff LinkedIn profiles before shutdown
These are classic pre-insolvency indicators in custodial crypto failures.
Real User Reviews & Online Reputation
Post-collapse discussions across forums and Telegram reveal consistent patterns:
Users reporting six-figure balances frozen
Failed fiat withdrawals through Singapore banks
Conflicting explanations from customer support before shutdown
Class-action coordination groups emerging across Asia and Europe
Because Tokenize collapsed abruptly, most reviews now reside in legal filings, private claimant groups, and court disclosures rather than public Trustpilot pages.
Melmac Solutions — Expert Opinion
Tokenize Xchange represents a systemic custodial failure, not merely a failed business. The combination of:
High average account sizes
Fiat and crypto commingling
Absence of segregated proof-of-reserves
Delayed regulatory enforcement
…creates a textbook example of how “trusted” exchanges become unrecoverable crime scenes overnight.
We do not classify this as a routine trading loss. Forensic tracing, legal pressure on fiat rails, and coordinated civil recovery are essential.
Safer Alternatives & Legitimate Recovery Options
If you are affected:
Avoid Telegram “recovery agents” claiming instant refunds.
Do not pay upfront “unlock” or “tax” fees.
Use a verified blockchain tracing and legal escalation pathway.
🔗 Start with Melmac’s intake here:
www.melmac-solutions.com/get-started
Learn the realities of recovery:
🔗 https://melmac-solutions.com/blog/can-stolen-crypto-be-recovered-the-hard-truth/
🔗 https://melmac-solutions.com/blog/crypto-recovery-service/
How We Verified This Investigation
Judicial manager filings
MAS enforcement notices
Singapore Police Commercial Affairs Department confirmations
Civil lawsuit filings by affected customers
Cross-referenced media disclosures
No anonymous Telegram rumors or affiliate reviews were used.
Final Verdict
Tokenize Xchange is definitively unsafe and permanently insolvent.
This is one of Southeast Asia’s most serious exchange failures, with verified nine-figure customer losses and active criminal investigations. Avoid completely. Victims should pursue coordinated forensic and legal recovery — not isolated actions.
FAQs
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1. Is Tokenize Xchange legit in 2025?
No. Tokenize Xchange is under criminal investigation, judicial management, and multiple civil lawsuits for massive customer fund shortfalls.
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2. Can I still withdraw from Tokenize Xchange?
No. Withdrawals are frozen and the platform is effectively insolvent.
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3. Can stolen crypto from Tokenize be recovered?
Considerable recovery may be possible through blockchain tracing, legal action against receiving exchanges, and coordinated technical recovery— but success depends on speed and evidence quality.
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4. Should I trust online “Tokenize recovery agents”?
No. Many are secondary scammers exploiting victims of the collapse.
Source Links
1. Monetary Authority of Singapore (MAS) (Official Investigation) – Investigation into Tokenize Xchange operated by AmazingTech Pte Ltd
2. Channel NewsAsia – Insolvency & Asset Shortfall – Operator of defunct Tokenize Xchange “heavily insolvent” with S$267m in liabilities
3. The Straits Times – Lawsuit by 270+ Users – Tokenize Xchange users sue founder and wife for over S$60 million in lost assets
4. Fintech News Singapore – Collapse & Customer Losses – Tokenize Xchange collapse leaves S$266.3 million owed to customers
