Logo

JPEX Fraud Case: 30 More People Arrested, Totaling 66 So Far

TraderKnows
TraderKnows
2023-11-27

In the latest update regarding the JPEX virtual asset trading platform fraud case, an additional 30 individuals have been apprehended, raising the total number of arrests to 66. All those taken into custody have been released on bail and are currently awaiting further investigation. They are mandated to report to the authorities between late December and late January.

November 27, 2023 - Swift developments unfold in the financial fraud case surrounding the JPEX virtual asset trading platform as 30 additional suspects are arrested, bringing the total to 66 and marking it as the largest scam in Hong Kong's financial history.

JPEX诈骗

As of now, all detained individuals have been granted bail, awaiting further investigation. According to regulations, they are required to report to the police between late December and late January.

JPEX被捕人员

The JPEX case is a major financial fraud incident primarily occurring in Hong Kong. The Jade Stone Digital Asset platform (JPEX) claims to be a global digital asset and encrypted trading platform established in 2020. However, in September 2023, the Hong Kong Securities and Futures Commission identified multiple suspicious aspects of JPEX. Subsequently, users reported difficulties withdrawing funds, leading the Hong Kong police to take action in September of the same year, arresting individuals involved.

JPEX案被捕的香港执业大律师

JPEX operates in both Hong Kong and Taiwan, with its official website claiming its operational headquarters are in Dubai, United Arab Emirates, and plans to establish a research and development headquarter in Sydney, Australia. However, JPEX is not registered or approved to operate in the relevant countries.

JPEX在香港发起大规模宣传

JPEX在香港进行了大量实体广告投放,并通过演艺圈和网络红人力推其平台币JPC,声称能够获得近20%的高年息。早在2022年7月,JPEX就被香港证监会列入无牌公司及可疑网站名单,然而当时未采取进一步行动。到了2023年9月,香港警方开始采取行动,逮捕了包括宣传JPEX的网络红人在内的多名人士。此外,香港警方要求封锁JPEX网站和应用程序,并在10月4日宣布实施“DAO持份者分红方案”,但多数客户仍然无法提款。

The platform extensively advertised in physical spaces in Hong Kong and heavily promoted its platform currency, JPC, through the entertainment industry and online influencers, claiming to yield nearly 20% annual interest. As early as July 2022, JPEX was listed by the Hong Kong Securities and Futures Commission as an unlicensed company and a suspicious website, though no further action was taken at the time. By September 2023, Hong Kong police initiated actions, arresting multiple individuals, including influencers promoting JPEX. Additionally, the police requested the blocking of JPEX's website and application, and on October 4, announced the implementation of the "DAO Stakeholder Dividend Plan," yet many clients still face challenges withdrawing funds.

JPEX1

This case involving the unlicensed cryptocurrency trading platform, JPEX, has garnered widespread attention. Hong Kong law enforcement has received reports from 2,623 victims, with an estimated amount involved of approximately HKD 1.6 billion. Police emphasize that the investigation is ongoing, and more arrests are not ruled out. Criminal investigators are actively pursuing the case, continuing to liaise with those involved to provide relevant information to assist in the police investigation.

SKYPE 图

公众号2

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End

Wiki

Pig Butchering Scam

The 'Pig Butchering Scam' is a type of financial fraud that originated in Southeast Asia, but has now become prevalent globally. The name stems from the scammers' method of dealing with their victims: similar to raising pigs, they first 'fatten' them by building trust, and then 'slaughter' them by swindling away all their money.

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.

Logo

Contact Us

Social Media

footer1