JPEX

Hong Kong authorities crack down on JPEX exchange, arresting over 70 suspects in a $200 million fraud case, implicating social media influencers and celebrities in promoting the unlicensed platform, while frozen assets and legislative action aim to recover losses and tighten crypto regulations.

Nine Chen, the day before his concert, went from being a witness to a defendant. However, despite this, he still performed at Taipei Arena on the 25th, seemingly unaffected by the case in his entertainment career.

JPEX suspects conspiracy fraud as more individuals get arrested. The Hong Kong police announced that a total of 66 people have been arrested in the case so far.

Financial technology solution providers suggest that future collaborations between banks and tokenised platforms may further fuel the development of the virtual asset industry.

Recently, the Hong Kong police discovered a company named "HOUNAX" suspected of fraud. It lured investors with high returns through a virtual asset trading platform, ultimately leaving investors unable to retrieve both their principal and profits.

Taiwanese prosecutors discover new suspects in the JPEX saga, complicating legal proceedings and worrying financial regulators.

In a plot twist, Taiwanese singer Nine Chen, entangled in a web of investments, now faces legal repercussions. Initially a witness, Chen now finds himself a defendant, adding an unexpected layer to his challenges. Known for his business savvy, Chen diversified into streetwear, restaurants, NFTs, escape rooms, and cyber poker. While his streetwear venture thrives with an eight-figure annual turnover, others yield mixed results.

Taiwanese singer Chen Lingjiu (陳零九) becomes a defendant in the JPEX cryptocurrency exchange investigation, amplifying the risks of celebrity endorsements in finance. The case reveals allegations of fraudulent virtual currency promotion by JPEX, leading to legal actions and underscoring the responsibility celebrities have in endorsing financial products.

Taiwanese artist and JPEX former spokesperson Nine Chen is being shifted from witness to defendant.

It's the first licensed crypto trading app in Hong Kong since the JPEX scandal.