Expanding JPEX Scandal: 8 New Arrests, $213M in Fraud

jpex scandal

Hong Kong Police have made 8 more arrests in connection with the JPEX scandal, bringing the total number of individuals arrested in the alleged fraud to 36. The police also disclosed that a staggering 2,595 people have reported losses related to the JPEX cryptocurrency exchange. The amount of money defrauded in the alleged scam has now exceeded $213 million.

In recent months, the JPEX scandal has rocked the crypto community in Hong Kong. The exchange came under investigation after numerous reports of fraudulent activities and suspicious transactions. Law enforcement agencies have been working tirelessly to identify the perpetrators and hold them accountable for their actions.

The latest arrests serve as a significant development in the ongoing investigation. The police are determined to apprehend all those involved in the JPEX scam and ensure justice is served. With a growing number of victims coming forward to report their losses, it is evident that the impact of this fraudulent scheme has been extensive.

The JPEX scandal highlights the importance of conducting thorough due diligence before engaging with any cryptocurrency exchange. Investors and traders must remain vigilant and exercise caution to protect their assets and avoid falling victim to fraudulent schemes. Authorities are urging individuals who have suffered losses as a result of the JPEX scam to come forward and report their cases.