Gate News: On March 26, Hong Kong police announced the latest developments in the investigation of the JPEX virtual asset trading platform scam case. Since the investigation began in September 2023, police have arrested 80 people and frozen assets worth approximately HKD 228 million. On March 26, police launched a new round of prosecution actions, charging 10 individuals with “money laundering” and “conspiracy to money laundering.”
Superintendent Han Chenghao of the Commercial Crime Bureau of the Hong Kong Police stated that the JPEX case is the largest in recent years in Hong Kong in terms of the number of victims and the amount of money defrauded, with over 2,700 victims reporting cases and involving more than HKD 1.6 billion. To date, no company or individual has claimed to be the legitimate operator of the platform. The police need to conduct extensive investigations to identify the masterminds, core members, and accomplices behind the scenes.
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