JPEX

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-exchange-jpex-freezes-assets-after-bankruptcy/" data-wpel-link="internal">Crypto Exchange JPEX Freezes Assets After Bankruptcy</a><br></p>
<p style="text-align: justify">After a prolonged silence in Hong Kong, authorities in September 2023 froze assets related to the bankrupt <strong>crypto exchange</strong> JPEX. This freezing of assets, totaling over $29 million, is considered one of the most significant steps since the exchange’s collapse. Let’s look into the details.</p> 
<h2 style="text-align: justify" id="quick-police-action-aids-in-recovering-funds">Quick Police Action Aids in Recovering Funds</h2> 
<p style="text-align: justify">The swift action by the police continued with the arrest of 72 individuals connected to <strong>JPEX</strong>. The arrests include employees and social media influencers. According to Police Chief Raymond Siu, it is estimated that over 2,600 people associated with JPEX suffered a total loss of $206 million.</p> 
<p style="text-align: justify">However, the identities or locations of the people behind the dissolved exchange have not yet been verified. Therefore, no charges have been made at this time. Siu stated that fraud activities related to crypto accounted for more than half of the total investment losses in 2023.</p> 
<h2 style="text-align: justify" id="influencers-detained-in-connection-with-the-case">Influencers Detained in Connection with the Case</h2> 
<p style="text-align: justify">The Hong Kong Securities and Futures Commission (SFC) is taking steps to resolve the issue by detaining individuals connected to <strong>JPEX</strong>. Among those detained are influencers Joseph Lam and Feng Shui expert Clement Chan. Additionally, an unidentified suspect was caught red-handed trying to destroy documents.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-343372 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/cryptocurrency-2.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify"><strong>SFC</strong> also took measures to block criticisms from lawmakers while listing platforms that are suspected and seeking licenses. However, identifying suspect platforms often requires monitoring user complaints and financial losses, which usually delays regulatory action. For example, Hong Kong-based crypto platform BitForex reported a withdrawal of about $57 million from its wallets following the resignation of CEO Jason Luo. Claims that Luo is under investigation in mainland China are still awaiting official confirmation.</p> 
<h2 style="text-align: justify" id="public-warned-about-crypto-fraud">Public Warned About Crypto Fraud</h2> 
<p style="text-align: justify">Hong Kong authorities are warning the public about fraud by publishing informative messages in public places like universities, residential buildings, and subway stations. Additionally, mobile networks like <strong>China Mobile HK</strong> are also alerting users about potential fraudulent calls from international numbers.</p> 
<p style="text-align: justify"><strong><a href="https://coin-turk.com/wirex-stellar-partnerliginde-26-yeni-kripto-para-basiliyor" data-wpel-link="internal">Crypto</a></strong> fraud warnings have been issued to prevent past negatives from recurring. Moreover, the seizure of some funds by Hong Kong also represents a valuable step in alleviating the plight of investors to some extent.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/crypto-exchange-jpex-freezes-assets-after-bankruptcy/" data-wpel-link="internal">Crypto Exchange JPEX Freezes Assets After Bankruptcy</a></h5>

Crypto Exchange JPEX Freezes Assets After Bankruptcy

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