Four More Arrests Made in JPEX Crypto Exchange Probe, Total Detentions Now at 18

Four More Arrests Made in JPEX Crypto Exchange Probe, Total Detentions Now at 18

In a recent development, police in Hong Kong and Macau have apprehended four more individuals linked to the ongoing JPEX crypto exchange case, as reported by the South China Morning Post on Friday.

Of the four arrests, two took place in Hong Kong, while Macau Police made the remaining two. This brings the total number of arrests in connection with the scandal to eighteen, including several individuals believed to be closely tied to the core operations.

These developments coincide with a warning issued by the Securities and Futures Commission (SFC) regarding another unlicensed virtual asset trading platform, FUBT Exchange, which is thought to be related to JPEX. The commission stated that the company provided a fake Hong Kong phone number in an attempt to create the illusion of a presence in the city.

FUBT Exchange was added to a list of suspicious virtual asset trading platforms by the SFC on September 22, as indicated on the commission's website. Subsequent checks suggest that the platform's website is no longer accessible,