According to Ming Pao, Hong Kong Democratic Alliance for the Betterment and Progress of Hong Kong Chairwoman Starry Lee, Election Committee member Chan Chung-bun, and accounting sector lawmaker Holden Chow jointly wrote to the Hong Kong Financial Affairs Committee, stating that the JPEX incident is serious and requesting that the JPEX incident be discussed at the October 9 meeting, at which time the Hong Kong Securities and Futures Commission will also be asked to attend for further explanation.

Hong Kong police announced updated information on the JPEX case, and on Wednesday (20th), they arrested three more men involved in the case on suspicion of conspiring to commit fraud. They are currently detained for investigation. A total of 11 people have been arrested in the case so far. As of 5 pm on September 20, 2023, the police have received a total of 2,086 reports from victims, involving approximately HKD 1.3 billion. The police stated that the investigation is still ongoing and more arrests cannot be ruled out.

JPEX, a troubled Hong Kong-based crypto exchange, has applied for deregistration in Australia. The director of JP-EX Crypto Asset Platform PTY LTD (JPEX), Jieyi Chen, filed the application with the Australian Securities and Investment Commission (ASIC), stating that all members of the company agree to the deregistration. The company claims to no longer be carrying out business, with assets not exceeding AUD 1000 and no liabilities. <br>

Blockchain analytics firm Bitrace has warned of potential RugPull activities at Hong Kong exchange JPEX, which is facing charges of involvement in a money laundering scheme. Over 190 million TRC20-USDT tokens have passed through the platform in the last 20 months, raising concerns about potential involvement in a broader financial crime network.

Hong Kong police have arrested 8 people in connection with the JPEX virtual asset trading platform case. A briefing on the case will be held at 4pm today (19th). As of yesterday (18th) at 2pm, a total of 1,408 people have reported cases involving more than 1 billion yuan. This morning, Hong Kong Chief Executive Carrie Lam expressed her concern about the JPEX case and has requested that the police and Securities and Futures Commission meet with the media this afternoon to explain the relevant events.&nbsp;

Hong Kong Chief Executive, Carrie Lam, has stated that in regards to the JPEX case involving virtual asset trading platform, the police and Securities and Futures Commission have been requested to meet with the media this afternoon (19th) to explain the related events.

After the China Securities Regulatory Commission issued a warning to the cryptocurrency trading platform JPEX, many users reported that they were unable to withdraw funds. However, it has been proven that since the beginning of this year, users from mainland China and Taiwan have reported difficulties in withdrawing funds, including Mr. Yu, a JPEX user from Shenzhen who has been using the platform for over a year.

According to reports, Hong Kong financial market regulation and virtual asset field lawyer Chen Tingqian stated that at present, JPEX Hong Kong users may face certain difficulties in civil claims. The current difficulty is that it is not known which legal entity of JPEX holds the customer's assets, nor is the registration location of that legal entity known.

Joseph Lam, a former lawyer and cryptocurrency influencer, has been arrested in Hong Kong in connection with the investigation into cryptocurrency exchange JPEX. The police raided Lam's office and seized boxes of evidence, including banknotes. Lam had previously urged affected users to report losses to a hotline set up by the police. JPEX has suspended some operations and raised withdrawal fees following an ongoing liquidity crisis, with at least 83 complaints involving virtual assets worth about HK$34 million ($4.3 million) received by the police.

JPEX, a cryptocurrency exchange based in Hong Kong, has halted trading due to an investigation by the Hong Kong Securities and Futures Commission (SFC) and the arrest of one of its associates. The SFC alleges that JPEX has been operating without a license and has received numerous complaints.