Posted 9/18/2023, 8:36:57 AM

Hong Kong Authorities Arrest Crypto Influencer Over Alleged Promotion of Troubled Exchange JPEX

Hong Kong police arrested crypto influencer Joseph Lam for association with troubled exchange JPEX
Authorities raided Lam's office and seized evidence related to JPEX
Lam allegedly promoted JPEX schemes and convinced an investor to put $12,800 into crypto
Lam visited police to provide information on JPEX amid ongoing liquidity crisis
JPEX blamed regulators and third parties for withdrawal issues, promised to restore services

cointelegraph.com

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9/22/2023

Hong Kong Police Probe Alleged $166 Million Cryptocurrency Fraud at Unlicensed JPEX Trading Platform

Hong Kong police are investigating allegations of fraud against cryptocurrency trading platform JPEX after investors complained of HK$1.3bn ($166m; £134m) in losses, with eleven people, including popular influencers, being arrested in what could be one of Hong Kong's biggest fraud cases as the city positions itself as a global hub for virtual assets.

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