Hong Kong police: As of 10:00 PM last night, 1,641 reports related to the JPEX incident have been received, involving an amount of approximately 1.2 billion Hong Kong dollars

ChainCatcher news, according to Sing Tao Daily, the Hong Kong police stated at a briefing on the JPEX case that as of 10 PM last night, they had received 1,641 reports claiming that they were unable to withdraw assets from JPEX and suspected they had been defrauded, involving an amount of approximately HKD 1.2 billion.

The Hong Kong police stated that JPEX is a virtual asset trading platform established in 2020, which extensively promoted its services and products to the public through influencers and OTC, claiming low risk and high returns. The Securities and Futures Commission (SFC) issued a warning statement on September 13, indicating that JPEX was not licensed by the SFC and its operating methods were highly suspicious. On September 14, the police received a referral from the SFC, which was then handed over to the Commercial Crime Bureau for follow-up, and a hotline was immediately established, calling on suspected victims to report through the hotline and electronic reporting center.

After being pointed out by the SFC for operating without a license, JPEX immediately raised the platform's trading fees, effectively making it impossible for users to withdraw funds. In the early hours of September 18, it even took down the financial management page and stopped all trading. So far, the police have arrested 4 men and 4 women, including the suspected company leaders and OTC shop owners. The SFC referred the case to the police, and more citizens have been reporting to the police, stating that they are unable to withdraw assets from the accounts they opened on JPEX.