Hong Kong, Macau make additional arrests in JPEX crypto fraud case

Police in Hong Kong and Macao announced on September 29 of the arrest of four more people linked to the cryptocurrency platform JPEX, which is suspected to have defrauded more than 2,400 people of almost $200 million.

As reported by the South China Morning Post, a total of 18 people have been arrested in connection to the case. Police have received 2,417 reports involving more than 1.5 billion Hong Kong dollars (approx. $191.6 million) in alleged losses on the platform.

Hong Kong police said in a news conference on September 29 that they had arrested two men, one of whom had been trying to destroy documents with paper shredders and bleach. Cash and gold worth nearly $9 million Hong Kong dollars (approx. $1.15 million) had been seized at three individual apartments in the latest police operation.