A recent investigation by the Organized Crime and Corruption Reporting Project (OCCRP) revealed that Su Weiyi, accused of orchestrating the collapse of the Hong Kong-based Atom Asset Exchange (AAX) in 2022, is tied to a sophisticated money laundering syndicate in Singapore. The AAX collapse affected over 2 million users, with $30 million in cryptocurrency allegedly stolen.
Key findings include Su Weiyi’s links to individuals involved in money laundering and human trafficking across Singapore and the Philippines. Corporate records show Su and his partner Wang Dingkai owned Hong Kong companies linked to the AAX platform. In Singapore, police have seized $2.3 billion in assets connected to this syndicate.
This investigation underscores the role of cryptocurrencies in organized crime across Southeast Asia, with AAX possibly serving as a tool for laundering illicit funds.