Attention! ACE Exchange users should "withdraw all TWD assets": deposits are expected to resume in November at the earliest, and the registered name has been changed.

Attention! ACE Exchange users should "withdraw all TWD assets" as deposits are expected to resume in November at the earliest, and the registered name has been changed. Following the prosecution of former and current responsible persons Pan Yichang and lawyer Wang Chenhuan by prosecutors, the platform stated that due to the need to synchronize the renaming with the adjustment of the KGI Bank trust account, all TWD assets will be returned. The earliest time for resuming deposits will be in November. (Background: The Financial Supervisory Commission fined ACE Exchange 1.52 million for violating anti-money laundering laws: failure to conduct proper KYC, deficiencies in transaction monitoring...) (Additional background: The latest on the ACE cryptocurrency fraud case) Prosecutors have added charges against Pan Yichang and 133 others, requesting severe penalties. The Taipei District Prosecutor's Office announced the end of the investigation into the ACE Exchange's involvement in the 2.2 billion garbage coin fraud case at the end of April this year, prosecuting 32 individuals including the leader of the fraud group Lin Genghong, former and current responsible persons of ACE Exchange Pan Yichang, lawyer Wang Chenhuan, and others for organized crime, fraud, and money laundering. They are seeking over 20 years of imprisonment for the main suspects. (The largest case in Taiwan) Complete tracking of the ACE Exchange garbage coin fraud incident. Whether ACE Exchange can resume deposits will have to wait until November. After the prosecution of former and current responsible persons, the exchange announced at the beginning of this month that it would undergo a company renaming plan and perform maintenance on the deposit system. According to information obtained by Dongqu from informed sources, ACE Exchange has currently been acquired by a new team. Since renaming requires approval from the Financial Supervisory Commission and cooperation with KGI Bank's new trust contract, it is uncertain whether operations can resume. Therefore, the official stated that the suspension of deposits will be extended until 2024/11/1 (Friday) 17:00. The official Chinese community of ACE stated in the group: Sorry, we just realized during the submission review that there were errors in the information submitted by the exchange last year, which need to be corrected. The new KGI Bank trust is expected to start in November. At that time, all services will be normal. ACE Digital Innovation has been renamed to Run Tong Digital Innovation. According to publicly available company registration information, the original name "ACE Digital Innovation Co., Ltd." has been changed to "Run Tong Digital Innovation Co., Ltd." on 2024/10/18. The registered address has changed to 10th Floor, No. 100, Section 1, Zhongxiao West Road, and the company has been managed by Liao Weizhi for some time. On the other hand, the current responsible person Liao Weizhi is associated with Ai Pu New Energy Co., Ltd. and Hongyuan Investment Company. According to information obtained by Dongqu from informed sources, the financier behind ACE's takeover is an honest businessman who previously engaged in traditional industries and is now retired and financially secure. He decided to buy ACE because he "did not want any exchange in Taiwan to go bankrupt" and cause negative impacts on the industry, viewing it as a fresh challenge. ACE Exchange must fully refund TWD assets. On the other hand, according to discussions among ACE users in the community, due to the need for the renaming of ACE Exchange to synchronize with the adjustment of the KGI Bank trust account, all TWD assets deposited on the platform must be refunded to ensure a smooth transition of the trust account. According to today's (24th) announcement, there will also be adjustments to some functions, detailed as follows: 2024/10/25 (Friday) 14:30 ~ 2024/10/25 (Friday) 15:00 (UTC+8) system maintenance will be conducted, and some trading pairs will be delisted: Spot Market: ADA/TWD, APE/TWD, ARB/TWD, BNB/TWD, BONK/TWD, BTC/TWD, DOGE/TWD, DOT/TWD, ETH/TWD, FTM/TWD, GALA/TWD, LTC/TWD, POL/TWD, SAND/TWD, SHIB/TWD, SOL/TWD, SSV/TWD, TRX/TWD, USDC/TWD, USDT/TWD, WOO/TWD, XRP/TWD *Trading pairs that are delisted will have their corresponding grid trading bots turned off. Fixed Investment: BTC/TWD, ETH/TWD *Orders in progress for corresponding fixed investments will be closed after the trading pairs are delisted. One-click buy/sell: TWD → BTC, TWD → ETH, TWD → USDT. 2024/10/28 (Monday) 17:00 delisting of dual currency wealth management trading pairs *Orders that have been established will not be affected, but new orders cannot be established after delisting (automatic reinvestment strategies will also stop after settlement). Related reports: Reversal! Main suspects of ACE cryptocurrency fraud case Pan Yichang, Lin Ruoqiao, and Lin Genghan "released on bail to be detained". (Latest on ACE cryptocurrency fraud case) Prosecutors have added charges against Pan Yichang and 133 others (an addition of 102 business personnel + 4 branch leaders) requesting severe penalties. (Latest on ACE cryptocurrency fraud case) Main suspect Pan Yichang, Lin Ruoqiao, and 3 others paid 58 million for bail, locking on electronic ankle monitors.