Police Make 12 Arrests, Seize $1 Million in Cash and $9.8 Million in Assets in JPEX Case
On Tuesday, Hong Kong police announced the arrest of 12 suspects in connection with the JPEX cryptocurrency exchange platform scandal.
During a press conference on Wednesday, Chris Tang Ping-Keung, the Secretary for Security of Hong Kong, reassured the public that the police are fully committed to delivering justice to those affected by the JPEX cryptocurrency exchange fraud.
Tang revealed that 12 arrests have been made so far, and assets totaling 77 million HKD ($9.8 million), including real estate and digital currency, along with over 8 million Hong Kong dollars ($1 million) in cash, have been seized.
Among the arrested individuals are three employees from JPEX Technical Support Company, in addition to YouTubers Chan Wing-yee and Chu Ka-fa.
However, as reported by the South China Morning Post, the total number of arrests has now reached 15.
One of the newly arrested individuals is Chung Wai-hin, a 23-year-old director of the over-the-counter (OTC) cryptocurrency exchange store Money Lupin.
Another is Sheena Leung, an influencer who operates the YouTube channel "sheung-8888" and is a staff member at the OTC cryptocurrency store Unicoin. The third person is a 28-year-old man named Wong.
Local media also reported that Tang mentioned the police are actively searching for the key operator in the JPEX scandal, which could be a significant development in resolving the case.
He also emphasized that they are collaborating with the country's regulator to implement measures aimed at preventing such scams in the future.
"Police are doing their best to locate the whereabouts of the leader of the platform. This is definitely a major factor in their investigation," Tang said.
Tang mentioned that the crypto exchange, JPEX, was alleged to
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