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Hong Kong intensifies JPEX investigation
Hong Kong authorities continue to investigate cryptocurrency exchange JPEX for The alleged fraud occurred over 2000 complaints from affected investors.
Eleven people They have reportedly been detained, including influential figures who I promoted the platform.
Investors lured by high return promises
The police said that the investors, most of them of Who are inexperienced, invested in Based on JPEX on Company promise of High return on Investments. As part of In its efforts to push its services, JPEX has not only tapped influencers; also Put up advertisements on Mass Transit Railway (MTR) train in Hong Kong system using Large billboards.
The authorities have so far arrested 11 people people for Questioning, up from six people Previously arrested. One of the social media Influencer who has been taken into police custody, Joseph Lam Chuk, has claimed he is no longer involved in Any activity related to JPEX, according to the South China Morning Post.
SFC warns against JPEX’s illegal operations
The Hong Kong Securities and Futures Commission (SFC) issued a warning on September 13, reporting that JPEX was illegally serving island residents without a license from the regulator. The cryptocurrency exchange criticized the SEC’s actions, stating that the regulator was exerting “undue pressure.” on Platform.
it was there also Reports indicate that JPEX’s office Title in Hong Kong has been occupied by a company called Coffee, and its employees said they were not aware of this of Cryptocurrency exchange, adding that the authorities already Visited the address. Also, Taiwan JPEX office I turned up Empty.
DAO Stakeholder Dividend Distribution Plan
Amid ongoing investigations and arrests, Hong Kong’s regulator has directed telecom service providers in the city To prevent JPEX official website And mobile The application, as stated in Blog post Through crypto exchange. GPEX also He said that the actions of the SFC caused Her third-party market Manufacturers to freeze “harmfully”. up funds.
company, in In response, it introduced an initiative called the DAO Stakeholder Dividend Plan, which would allow Users to convert their files assets To DAO stakeholder profits 1:1. As part of Scheme, cryptocurrency exchange plans To distribute 49% of DAO stakeholder profits worth 400 million USDT will be used for Subscribe and convert.
In addition, JPEX offers users the ability to buy back option by 30% of the original transformation price one year Yet, specifically on September 20, 2024, while second The buyback offer increases to 100% after two years.
The platform asked users vote on the new The scheme that saw the majority of Voters in 70% agree and 30% disagree. with The plan, as well of September 23. The votes will end on September 28, 2023.
