Hong Kong Police Update Progress on JPEX Fraud Case: Assets Worth Approximately HK$228 Million Frozen, 80 People Arrested

Odaily News Hong Kong police have announced the progress of the investigation into the virtual asset trading platform JPEX fraud case. They disclosed that since the investigation began in September 2023, a total of 80 people have been arrested, and assets worth approximately HK$228 million have been frozen. On March 26, another round of prosecution actions was taken, charging 10 individuals with "money laundering" and "conspiracy to commit money laundering".

Han Chenghao, Chief Inspector of the Hong Kong Police Commercial Crime Bureau, stated that the related JPEX case is the largest in Hong Kong in recent years in terms of the number of victims and the amount of money involved. Over 2,700 victims have filed reports, involving more than HK$1.6 billion. Since the incident occurred, no company or individual has claimed to be the actual operator. The police need to conduct extensive investigations to identify the mastermind, core members, or accomplices behind the JPEX case. (Hong Kong Commercial Daily)