24 Mar 2021

Collapse of crypto firm Torque Trading

Partners Danny Ong, Yam Wern-Jhien and Jansen Chow; Associates Ryo Yap and Claudia Chan from Rajah & Tann Singapore are acting for the liquidators of Torque Group, a cryptocurrency investment platform, with over 14,000 customers across 120 countries, which collapsed in 2021 following upon the loss and misappropriation of over US$300 million of cryptocurrency assets allegedly caused by its Chief Technology Officer (“CTO”), who had absconded. Successfully secured worldwide freezing orders against cryptocurrency assets of the CTO, and assisting in investigating into and trading the misappropriated assets.