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More than 2,000 victims in developing JPEX Cryptocurrency Scandal

In the widening scandal surrounding the unlicensed cryptocurrency exchange JPEX, three more individuals have been arrested, making it 11 suspects in total. The debacle has impacted over 2,000 alleged victims with a financial sum nearing HKD1.3bn. Following the Securities and Futures Commission's (SFC) instructions, local telecommunications providers have blocked internet access to the JPEX website. JPEX countered by ensuring its users they can still access the platform via VPNs. Refuting JPEX's claims of seeking regulatory compliance, the SFC clarified that JPEX had not approached them for any licensing matters. The issue has been escalated to the police by the SFC, suspecting fraud. The investigation continues.


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