Number of scam victims on Hong Kong's JPEX crypto exchange exceeds 2,000

The virtual asset trading platform known as JPEX has come under scrutiny for its alleged involvement in irregular operations. This has led to a series of arrests, with a total of 11 individuals now apprehended on charges of conspiring to commit fraud. The investigation into this case is ongoing, and it remains a possibility that additional arrests will be made.

Report informs citing the ministry that the police took further action on Wednesday when they arrested three more male suspects, aged between 25 and 32, who are believed to be connected to the fraudulent activities associated with JPEX. These individuals are presently in custody, undergoing thorough investigation to gather more evidence regarding their alleged involvement in the conspiracy. With these recent arrests, the total number of people detained in connection with the case has now reached 11.

The investigation into JPEX and its alleged fraudulent activities has attracted significant attention, with a growing number of victims coming forward to report their cases. As of 5pm on the 20th, a total of 2,086 victims have filed complaints, highlighting the scale and impact of the suspected fraud. The reported losses are estimated to be around HK$1.3 billion, underscoring the magnitude of the financial implications involved.