Crypto Exchange JPEX Suspends Earn Trading Amid Ongoing Investigations in Hong Kong

Crypto News
Crypto News

18 Sep 2023 8:02 AM

Hong Kong police have received at least 83 complaints on JPEX, involving cryptocurrencies worth HK$34 million....

  • Cryptocurrency platform JPEX is suspending its Earn Trading interface amid ongoing investigations by Hong Kong police and the financial regulator over suspected fraud.
  • JPEX accuses relevant institutions in Hong Kong of unfair treatment and claims negative news has caused third-party market makers to freeze funds.
  • Hong Kong police have arrested internet celebrity Lam Zuo for allegedly promoting JPEX, which is described as an "unlicensed" rug pull crypto exchange.
  • The Securities and Futures Commission (SFC) issued a warning about JPEX's activities and urged the public to be cautious.
  • Users have reported issues with high withdrawal fees, but JPEX promises to gradually adjust them back to normal levels and has set up a dedicated withdrawal team.


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You May Ask

Why is JPEX suspending its Earn Trading interface?What accusations has JPEX made against institutions in Hong Kong?Who has been arrested in connection with JPEX?What warning did the Securities and Futures Commission issue?How is JPEX addressing user complaints about high withdrawal fees?

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