Hong Kong Police Provide Update on JPEX Scam Case: 80 Arrested, Assets Worth Approximately 228 Million HKD Frozen

BlockBeats News, March 26th. According to the Hong Kong Commercial Daily, the Hong Kong police revealed the progress of the investigation into the JPEX cryptocurrency exchange fraud case. It was reported that since September 2023, a total of 80 people have been arrested, and assets worth approximately 228 million Hong Kong dollars have been frozen. On March 26th, another round of inspections was conducted, and 10 individuals were charged with "money laundering" and "conspiracy to launder money."

Inspector Han Chenghao of the Hong Kong Police Commercial Crime Investigation Department stated that the JPEX case is the largest in terms of the number of victims and the amount of fraud money involved in recent years in Hong Kong. Over 2,700 victims have reported losses exceeding 1.6 billion dollars. To date, no company or individual has admitted to being the actual operator. The police need to conduct a large number of investigations to identify who the mastermind, key members, or accomplices of the JPEX case are.