US EditionCrypto exchange JPEX suspends trades amid investigation into suspected fraud
- JPEX-Crypto Platform faced negative news that caused capital freeze and cash flow issues, prompting the company to halt new trades and promising to recover liquidity from market makers.
- The platform has been under investigation by the Commercial Crime Bureau and received multiple complaints regarding virtual assets worth about HK$34 million .
- The Securities and Futures Commission warned investors about JPEX's false claims of obtaining licenses, offering high returns, and using misleading statements from paid social media influencers.
6 Articles
6 Articles
Crypto exchange JPEX suspends trades amid investigation into suspected fraud
JPEX-Crypto Platform, a cryptocurrency exchange in Hong Kong, is reportedly suspending trades amid a police and financial regulator's investigation into suspected fraud. The exchange, as per South China Morning Post (SCMP) announced on Sunday that negative news had led market makers to freeze its capital and disrupt its cash flow.
Social media influencers among 6 arrested as Hong Kong police probe unlicensed JPEX crypto exchange
Four men and two women have been arrested on suspicion of conspiracy to commit fraud linked to the unlicensed cryptocurrency exchange platform JPEX, after Hong Kong police received reports from 1,480 people related to the case. The case under investigation involved over HK$1 billion, the police told HKFP on Monday. Website of JPEX Crypto Platform. Photo: Screen shot of JPEX Website. Among those arrested were influencer and insurance agent Jo…
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