In the ongoing investigation into the controversial cryptocurrency exchange JPEX, a prominent Hong Kong internet celebrity named Lam Zuo has been arrested for allegedly promoting the exchange. This development comes as Hong Kong authorities intensify their efforts to address potential fraudulent activities associated with JPEX, following referrals from both the China Securities Regulatory Commission and the Securities and Futures Commission (SFC).
The SFC has noted that JPEX actively promoted its services to the Hong Kong public through internet celebrities and over-the-counter exchange shops. Importantly, none of the entities within the JPEX Group have been licensed by the SFC to operate a virtual asset trading platform in Hong Kong.
As of now, the Hong Kong Police have received over 83 reports related to JPEX, with an estimated total value of approximately HK$34 million. The investigation is ongoing, and authorities are working to uncover the complex activities surrounding the exchange. A hotline has been established for the public to report cases and inquiries related to the investigation.
Please note that the information provided in this article is for general market commentary and does not constitute investment advice. Conducting your own research before investing is encouraged.