Four more people connected to the cryptocurrency exchange JPEX, which is suspected of defrauding over 2,400 people out of about $200 million, have reportedly been detained by police in Hong Kong and Macao.
A total of four more people connected to the cryptocurrency exchange JPEX, which is suspected of defrauding over 2,400 people out of about $200 million, have been detained, according to police in Hong Kong and Macao on Friday. With the arrests, there are now 18 persons in custody as a result of the case. Over 1.5 billion Hong Kong dollars ($191.6 million) in claimed losses on the site have been the subject of 2,417 reports to police.
In a news conference held on Friday, Hong Kong police announced the arrest of two males, one of whom was attempting to use bleach and paper shredders to destroy records. In the most recent police raid, cash and gold worth approximately $9 million Hong Kong dollars ($1.15 million) were also found at three apartments.
Authorities seized more than 14 million Hong Kong dollars ($1.8 million) in cash and goods, as well as money from a casino account, after detaining two further individuals in Macao. According to the police, the two traveled to Macao frequently throughout September.
The probe has reportedly reached individuals who were “relatively close” to the heart of JPEX’s operations, according to assistant police commissioner Chung Wing-man, but it is still unclear whether the mastermind is a person or a group of people.
Though they are not currently in Hong Kong, authorities are aware of the whereabouts of other people who are thought to be involved to the investigation, according to Chung. In these situations, the police will cooperate with foreign authorities to prosecute the offenders.
Also Read: Millionaire Ryan Cohen Becomes GameStop’s New CEO And Expands His Chairman Responsibilities
Tens of thousands of transactions and thousands of e-wallets are involved in this case. According to Cheng Lai-ki, chief superintendent of the police force’s Cyber Security and Technology Crime Bureau, “it is quite challenging to identify the culprit behind (this case) due to the anonymity of cryptocurrencies in the cybersphere.
She promised that she would do all in her power to find the syndicate and track the bitcoin. Hong Kong’s Securities and Futures Commission had earlier this month warned that JPEX was operating without a license and lacked the authority to run a cryptocurrency trading platform in the city.
Some investors, according to the statement, had reported that they were unable to withdraw virtual assets from their JPEX accounts or that their balances had been “reduced and altered.” A few days later, the JPEX platform announced that trading had been suspended and accused a third-party market maker of “maliciously” freezing cash.
This month, police detained many social media influencers who were supporting JPEX. Most of the victims who invested in JPEX were novice investors who were persuaded to do so by the promise of low risks and large rewards.
Understanding JPEX
JPEX, short for “Journey through the E-Commerce Experience,” is a cutting-edge platform designed to empower businesses, both big and small. It is more than just an e-commerce platform; it is a holistic solution that caters to every facet of online business operations. From setting up your online store to managing inventory, processing payments, and optimizing your website for search engines, It offers a one-stop solution that simplifies the complex world of e-commerce.
Why JPEX?
Seamless Integration
One of the key advantages of JPEX is its seamless integration capabilities. It effortlessly integrates with a wide range of third-party tools and applications, allowing you to tailor your e-commerce ecosystem to your specific needs. Whether you need to connect with a CRM system, automate email marketing, or sync with your accounting software, JPEX has you covered.
User-Friendly Interface
JPEX boasts a user-friendly interface that doesn’t require extensive technical expertise to navigate. Its intuitive design ensures that even beginners can set up and manage their online stores with ease. This means you can focus on what truly matters – growing your business.
Optimized for SEO
In the highly competitive world of online business, visibility is key. JPEX recognizes this and has incorporated robust SEO tools to help your website rank higher on search engine results pages (SERPs). With JPEX, you can optimize your product listings, meta tags, and descriptions, giving you a significant edge in the SEO game.
The Power of JPEX Analytics
In today’s data-driven world, having access to comprehensive analytics is crucial for making informed business decisions. JPEX offers a robust analytics dashboard that provides insights into customer behavior, sales trends, and website performance. This data-driven approach allows you to fine-tune your marketing strategies and product offerings for maximum impact.
Security and Payment Processing
Security is a top priority for any online business. JPEX understands this and incorporates state-of-the-art security measures to protect your customers’ sensitive data. Additionally, JPEX offers a range of payment processing options, making it convenient for customers to make purchases on your website.
Also Read: The US Economy Expanded At 2.1% Annual Rate During The Most Recent Quarter, According To Reports
image source: google
