Hong Kong law enforcement authorities have detained a popular crypto-influencer in the Chinese sector in the case of fraud on the JPEX exchange.
Unicoin employee and popular crypto blogger Xiang Xiang Unicoin, who is called a "resident analyst of Unicoin" on social networks, is suspected of commercial advertising and encouraging investors to participate in fraudulent transactions on the JPEX platform.
The police argued that Xiang Xiang had repeatedly shared her recommendations and investment ideas with subscribers of the thematic channel on YouTube and on the Instagram page.
Together with Xiang Xiang Unicoin, two other crypto entrepreneurs were arrested in the JPEX case, connected with conducting illegal exchange operations.
Employees of the Hong Kong Commercial Crimes Enforcement Bureau report that the amount of damage to exchange investors is estimated at $190 million, and the total number of persons detained in the case of the loss of JPEX crypto assets has reached 15 people. The police stressed that the investigation is ongoing and new arrests are not excluded.
Earlier, the South China Morning Post reported that the Hong Kong police asked Interpol for help in finding the missing assets from the JPEX exchange.
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Hong Kong police announced the arrest of 72 people as part of a fraud investigation on the JPEX cryptocurrency exchange. This is reported by local media.
Also, law enforcement officers froze assets in the amount of HKD 228 million ($29.37 million).
In total, the police received 2,636 messages from victims. The damage amounted to about HKD 1.6 billion (~$204.3 million).
The JPEX exchange was at the center of a scandal in September 2023, when the Hong Kong Securities and Futures Commission accused it of operating without a license. It is known that the platform charged users an exorbitant commission for withdrawing assets.
Among the first people arrested were bloggers who appeared in JPEX ads and opened their own unlicensed exchanges.
Amid the liquidity crisis, the exchange suspended all operations in the JPEX Earn service.
Recall that as part of the fight against criminal commercial activities, the Hong Kong police repeatedly arrested people who participated in illegal cryptocurrency operations.
In 2023, 2,342 investment scams worth about HKD 3.16 billion (~$403.5 million) were linked to cryptocurrencies.
Unicoin employee and popular crypto blogger Xiang Xiang Unicoin, who is called a "resident analyst of Unicoin" on social networks, is suspected of commercial advertising and encouraging investors to participate in fraudulent transactions on the JPEX platform.
The police argued that Xiang Xiang had repeatedly shared her recommendations and investment ideas with subscribers of the thematic channel on YouTube and on the Instagram page.
Together with Xiang Xiang Unicoin, two other crypto entrepreneurs were arrested in the JPEX case, connected with conducting illegal exchange operations.
Employees of the Hong Kong Commercial Crimes Enforcement Bureau report that the amount of damage to exchange investors is estimated at $190 million, and the total number of persons detained in the case of the loss of JPEX crypto assets has reached 15 people. The police stressed that the investigation is ongoing and new arrests are not excluded.
Earlier, the South China Morning Post reported that the Hong Kong police asked Interpol for help in finding the missing assets from the JPEX exchange.
+++++
Hong Kong police announced the arrest of 72 people as part of a fraud investigation on the JPEX cryptocurrency exchange. This is reported by local media.
Also, law enforcement officers froze assets in the amount of HKD 228 million ($29.37 million).
In total, the police received 2,636 messages from victims. The damage amounted to about HKD 1.6 billion (~$204.3 million).
The JPEX exchange was at the center of a scandal in September 2023, when the Hong Kong Securities and Futures Commission accused it of operating without a license. It is known that the platform charged users an exorbitant commission for withdrawing assets.
Among the first people arrested were bloggers who appeared in JPEX ads and opened their own unlicensed exchanges.
Amid the liquidity crisis, the exchange suspended all operations in the JPEX Earn service.
Recall that as part of the fight against criminal commercial activities, the Hong Kong police repeatedly arrested people who participated in illegal cryptocurrency operations.
In 2023, 2,342 investment scams worth about HKD 3.16 billion (~$403.5 million) were linked to cryptocurrencies.
