Court certifies operation is safe! ACE Exchange's application for temporary agent denied, warns specific media: retains legal right to pursue legal action for false accusations.

Taiwan's three major exchanges ACE sparked widespread discussion due to its founder Pan Yizhang and current responsible person, lawyer Wang Chenhuan's involvement in an air coin fraud case. The exchange's operating team continues to maintain normal deposits and withdrawals, jointly safeguarding fund rights with the fund custodian bank. In a recent court document, it can be seen that ACE's current management team is facing the dilemma of shareholders being suspected of crimes.

ACE Case Investigation: Scammer Lin Genghong and exemplary lawyer Wang Chenhuan are the masterminds behind the air coin fraud, with Pan Yizhang acting as the frontman.

ACE Management Team Seeks to Overcome Obstacles from Involved Parties to Ensure Normal Operations

According to the civil documents from the Taipei District Court, the management team of the exchange ACE has applied to the court for a "temporary administrator" to seek the right to make decisions, including preventing business interruption, inability to move bank funds, failure to pay employee salaries, and inability to cover system and operational expenses.

Court Finds ACE Operations Unaffected, No Need for "Temporary Administrator"

However, on March 14, the court found that ACE exchange is currently not obstructed in its operational practices. The evidence presented cannot prove any connection with the involved parties, thus the court rejected the need for a "temporary administrator". The ACE exchange management team has stated that they will appeal this decision.

ACE Management Team Statement: Fulfilling Legal Compliance Obligations to Ensure Normal Operations

Following reports from certain media outlets, the ACE exchange issued a statement and reserved the right to pursue legal action:

"ACE exchange operations are running normally, the application procedure is solely for the purpose of corporate governance.

Regarding the issues reported by the media, this action is simply exercising the existing rights of the exchange in accordance with company law and fulfilling legal compliance obligations to ensure that operations are not influenced by external forces. It is not related to financial matters as reported by the media.

All Taiwanese assets of ACE exchange users are protected by the custody services of Cathay United Bank, and all services for depositing and withdrawing cryptocurrencies and New Taiwan Dollars are running smoothly.

We reserve all legal rights to pursue any false accusations against ACE exchange and its staff that result in reputational damage and other consequences.

The ACE exchange management team is always committed to complying with laws and regulations. In the event of any suspected illegal activities, we will act in accordance with the law, including delisting controversial cryptocurrencies when necessary. We support the strict enforcement of the law to maintain market order and protect the interests of investors."

The ACE exchange management team stated that they are appealing to fulfill their legal obligations of corporate governance.

ACE Management Team Response: Striving to Sustain ACE Operations

ACE is the first cryptocurrency exchange in Taiwan to face difficulties due to involvement in air coin fraud by senior management. Although deposits and withdrawals are currently unaffected and operations are normal, the company has fallen into a state of "ownerless" due to the scandal involving the founder and CEO.

When interviewed, the current management team of ACE expressed that they can only do their best to find solutions to keep ACE operating normally.