Hong Kong Security Chief Vows to Find JPEX Leader

Hong Kong’s security minister, Chris Tang Ping-keung, has vowed to apprehend the leader of fraud crimes at crypto exchange JPEX. Police confirmed they were seeking assistance from Interpol in rounding up the leaders of JPEX.

He said that further details could not be disclosed without additional evidence, but that police had contacted several celebrities involved in promoting the platform.

“Police are doing their best to locate the whereabouts of the leader of the platform. This is definitely a major factor in their investigation,” the minister said.

Hong Kong Police Arrest Celebrities Ahead of JPEX Leaders

To date, Hong Kong police have arrested 12 people, including JPEX employees, staff from crypto stores, and online influencers. Among those arrested are YouTubers Chan Wing-yee and Chu Ka-fai, celebrities Julian Cheung Chi-Lam, Jacqueline Ch’ng Se Min, and Clement Chan Ting-bong, and social media influencer Joseph Lam Chok.

They are suspected of conspiracy to commit fraud through operating an unlicensed crypto exchange. The arrests came after police received over 2,300 complaints from customers.

Police also seized $1 million in cash and $9.9 million in real estate and crypto related to the fraud. Early estimates peg JPEX customer losses at around $192 million.