ACE Ace Exchange will be renamed and reportedly acquired by a new team

ACE Ace Exchange revealed in a recent announcement that it will change its company name and there are reports that the exchange has been acquired by a new team.

ACE Exchange released a system maintenance announcement on Wednesday, stating that the platform will conduct deposit system maintenance from 17:00 on October 2nd to 17:00 on October 7th, which will affect fiat currency deposits. The announcement mentioned that this maintenance is in response to the company's renaming and system upgrade operations.

According to BlockTempo, citing informed sources, ACE Exchange seems to have been acquired by a new team, but the buyers behind it have not yet been revealed, and more details may be announced next week.

In April of this year, the founder of the Ace Exchange, Pan Yizhang, lawyers Wang Chenhuan, Lin Genghong, and others were charged by the Taipei District Prosecutors Office with fraud, money laundering, and other crimes for allegedly enticing victims to invest in virtual currencies that could not be monetized, earning nearly NT $800 million. In addition, the Financial Supervisory Commission stated in July that it found multiple deficiencies during its inspection of ACE Exchange's anti money laundering and counter-terrorism operations in November last year, and therefore imposed a fine of NT $1.52 million on the company.