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JPEX crypto exchange investigated by Hong Kong Police

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Reports have emerged that Hong Kong police are commencing a fraud investigation in the JPEX exchange after a large number of complaints were made by users of the platform.

It is estimated that at least eleven individuals were arrested this week after complaints were made by over two thousand people.

Making matters worse for the operation, it has been established that the Dubai-based JPEX had been operating in Hong Kong without a license for virtual asset trading.

Inexperienced investors lost money after being exposed to advertising from influencers and giant billboards on Hong Kong’s MTR train system.

Among those arrested was a barrister turned insurance salesman and a YouTube personality with over two hundred thousand subscribers.

The platform currently has said it is working to resolve a “liquidity shortage”.

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