US charges Kishu Inu creator with $9 million fraud as Singapore freezes Tokenize Xchange funds
The US Justice Department indicted Kishu Inu creator Alexander Sisemore on three counts of wire fraud tied to an alleged $9 million rug pull, the same week a Singapore court froze roughly S$53 million linked to the collapsed Tokenize Xchange. Both cases show how enforcement wins rarely translate into recovered funds, a gap institutional allocators now factor into counterparty and token due diligence.
- Sisemore faces up to 20 years in prison on each of three wire fraud counts, the US Attorney’s Office said Wednesday, October 7, 2025.
- Singapore’s Mareva injunction covers roughly S$53 million tied to Hong Qi Yu and ex-wife Erin Koo Kee Hoon, matching 249 claimants’ suit.
- Court-appointed managers found AmazingTech owed Tokenize Xchange users $205.34 million but held just $2 million in realizable assets.
- $9M total alleged fraud versus Kishu Inu’s $1.6B peak market cap
- S$53M Singapore’s freeze order versus $205.34M owed to claimants
- <1% share of debt recoverable from AmazingTech’s realizable assets
The US Attorney’s Office for the Northern District of Illinois said Wednesday, October 7, 2025, that a federal grand jury in Chicago indicted Alexander Sisemore, creator of the Kishu Inu token, on three counts of wire fraud tied to what prosecutors called a $9 million “rug pull” scheme, according to the indictment. A rug pull describes a scheme in which developers quietly retain a token’s supply, hype its price on social media, then sell into the market while buyers are left holding a collapsing asset.
DOJ Says Sisemore Hid 6% Supply While Claiming 1.7%
According to the indictment, Sisemore and a second founder, identified only as Individual A, privately held roughly
Original reporting: cryptopolitan.com
