Hong Kong arrests over JPEX crypto fraud increase to six people
Hong Kong officials have cracked down on purported crypto fraud , arresting six people , including two well-known social media influencers linked to the JPEX platform. The arrests come as a part of an investigation into the Hong Kong-based platform, which has reportedly operated without a valid license and has been at the center of complaints amounting to a staggering 1 billion Hong Kong dollars ($127.8 million). The Securities and Futures Commission (SFC), Hong Kong’s market regulatory body, noted that the unlicensed operations of JPEX have received over 1,408 complaints, drawing a significant spotlight on the hurdles of establishing a crypto hub in the territory. The police have been actively investigating the matter, responding to a wave of discontent from users who have reportedly lost substantial assets. You might also like: Hong Kong arrests celebrity linked to JPEX amid investigations In a recent blog post, JPEX attributed its liquidity challenges to what t...