Hong Kong police update on the JPEX fraud case: Approximately HK$228 million in assets have been frozen, and 80 people have been arrested.

Hong Kong police have released updates on their investigation into the JPEX virtual asset trading platform fraud case. Since the investigation began in September 2023, 80 people have been arrested, and assets totaling approximately HK$228 million have been frozen. On March 26, another round of prosecutions was launched, charging 10 individuals with money laundering and conspiracy to launder money. Chief Inspector Han Chenghao of the Commercial Crime Bureau stated that the JPEX case is the largest in terms of both the number of victims and the amount of money defrauded in Hong Kong in recent years, with over 2,700 victims reporting the crime and the amount involved exceeding HK$1.6 billion. To date, no company or individual has claimed to be the true operator, and the police need to conduct extensive investigations to identify the mastermind, core members, or accomplices behind the JPEX case. (Hong Kong Commercial Daily)