JPEX in disarray after Hong Kong’s regulators initiate probe

• Hong Kong's regulator issued a warning about JPEX operating without regulatory approval.
• JPEX has fallen into disarray and halted trading on its Earn Trading interface.
• The exchange raised withdrawal fees and blamed a liquidity shortage caused by market makers.
• JPEX plans to restructure as a decentralized autonomous organization (DAO).
• Hong Kong police received 83 complaints involving JPEX worth $4.3 million.
• A social media influencer associated with JPEX was arrested, and JPEX abandoned its booth at a conference.
• JPEX had not applied to run a regulated virtual asset trading platform.
• JPEX's website is currently inaccessible.

The article highlights the controversy surrounding JPEX and its operations in Hong Kong, with negative sentiment towards the exchange due to its lack of regulatory approval, disarray, and complaints.