Attention! ACE Exchange users should urgently 'withdraw all New Taiwan Dollar assets': Deposits will resume at the earliest in November, and the registration name has changed.

Ace Exchange's trading platform, after former and current responsible persons Pan Yizhang and lawyer Wang Chenhuan were indicted by prosecutors, stated that due to the need for a name change, adjustments to the KGI Bank trust account must be made simultaneously, resulting in the return of all New Taiwan Dollar assets, with the earliest resumption of deposits expected in November. (Background: The Financial Supervisory Commission fined ACE Exchange 1.52 million for violating anti-money laundering regulations: failure to conduct proper KYC, deficiencies in transaction monitoring...) (Additional background: Latest on the ACE cryptocurrency fraud case) Prosecutors have added indictments against Pan Yizhang and 133 others, requesting heavier sentences.) The Taipei District Prosecutor's Office announced the conclusion of the investigation into the ACE Exchange's involvement in a 2.2 billion dollar fraud case at the end of April this year, indicting 32 people, including the head of the fraud ring Lin Genghong, former and current responsible persons of ACE Exchange Pan Yizhang and lawyer Wang Chenhuan, for crimes such as organized crime, fraud, and money laundering. The main suspects face over 20 years of imprisonment. (Largest case in Taiwan) The complete tracking of the ACE Exchange's involvement in the fraud is ongoing. Whether ACE Exchange can resume deposits will have to wait until November. After the former and current responsible persons were indicted, the exchange announced earlier this month that it would proceed with plans to change its company name and maintain its deposit system. According to information obtained by the media from informed sources, ACE Exchange has now been acquired by a new team. The resumption of operations depends on the approval from the Financial Supervisory Commission and compliance with the new trust contract from KGI Bank, so the current suspension of deposits will be extended until 2024/11/1 (Friday) at 17:00. ACE's official Chinese community stated in the group: We apologize for discovering errors in the information submitted last year during the review process; corrections are needed. The new KGI Bank trust is expected to start in November. At that time, all services will return to normal. ACE Digital Innovation has been renamed to RunTong Digital Innovation. According to publicly available company registration information, the original name "ACE Digital Innovation Co., Ltd." has been changed to "RunTong Digital Innovation Co., Ltd." on 2024/10/18, with the registered address changed to 10th Floor, No. 100, Section 1, Zhongxiao West Road, and the company head was changed to Liao Weizhi some time earlier. On the other hand, the current head Liao Weizhi is associated with Ai Pu New Energy Co., Ltd. and Hongyuan Investment Company. According to news obtained by the media from informed sources, the financier behind the acquisition of ACE is a honest businessman who previously worked in traditional industries and is now retired and financially secure. He decided to buy ACE because he "does not want any exchange in Taiwan to fail," which would negatively impact the industry, viewing it as a fresh challenge. ACE Exchange must fully refund New Taiwan Dollar assets. Additionally, according to discussions among ACE users in the community, the name change of ACE Exchange requires simultaneous adjustments to the KGI Bank trust account to ensure a smooth transition, necessitating the return of users' New Taiwan Dollar assets held on the platform. According to an announcement today (24), some functionalities will also be adjusted, with details as follows: 2024/10/25 (Friday) 14:30 ~ 2024/10/25 (Friday) 15:00 (UTC+8) system maintenance will occur, and several trading pairs will be removed: 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 *After trading pairs are removed, corresponding grid trading bots will be shut down. Dollar-Cost Averaging: BTC/TWD, ETH/TWD *After trading pairs are removed, corresponding ongoing dollar-cost averaging orders will be closed. One-Click Buy/Sell: TWD → BTC, TWD → ETH, TWD → USDT 2024/10/28 (Monday) 17:00 removal of dual-currency wealth management trading pairs *Existing orders will not be affected, but no new orders can be established after removal (automatic reinvestment strategies will also cease after settlement). Related reports: Reversal! Main suspects in the ACE cryptocurrency fraud case, Pan Yizhang, Lin Ruoqiao, and Lin Genghan, had their bail changed to detention. (Latest on ACE cryptocurrency fraud case) Prosecutors have added indictments against Pan Yizhang and 133 others (including 102 business representatives and 4 branch presidents), requesting heavier sentences. (Latest on ACE cryptocurrency fraud case) Main suspect Pan Yizhang, Lin Ruoqiao, and two others posted bail of 58 million and were fitted with electronic ankle monitors. "Attention! ACE Exchange users should urgently 'withdraw all New Taiwan Dollar assets': Deposits will resume at the earliest in November, and the registration name has changed." This article was first published by BlockTempo (the most influential blockchain news media).