jpex
26,631 views
42 Discussing
Hot
Latest
#CryptoScandal
Hong Kong Charges Influencer Joseph Lam in $205M JPEX Crypto Scandal
Hong Kong’s JPEX crypto scandal has taken a major turn as police formally charged influencer Joseph Lam Chok with fraud, money laundering, and promoting unlicensed virtual asset investments. The case, involving over 2,700 victims and losses exceeding HK$1.6 billion (US$205 million), marks one of the city’s biggest crypto frauds.
From Influencer to Defendant
Once a popular promoter of “safe and easy” crypto profits, Lam’s association with JPEX helped attract thousands of investors. The platform, launched in 2020, was never licensed under Hong Kong’s virtual asset regime. Investigators allege Lam and others profited while users were unable to withdraw funds, with some fees reaching 999 USDT per transaction.
Crackdown Expands
Police have now arrested over 80 individuals, seizing HK$228 million in assets. Interpol has also issued Red Notices for suspects who fled overseas. Authorities say the case highlights the growing risk of influencer-led promotions in unregulated crypto markets.
Hong Kong’s regulators are tightening oversight under new anti–money laundering laws — signaling a strong message: crypto accountability has arrived.
#JPEX
#CryptoScandal
#JosephLam
#CryptoNews
Hong Kong Charges Influencer Joseph Lam in $205M JPEX Crypto Scandal
Hong Kong’s JPEX crypto scandal has taken a major turn as police formally charged influencer Joseph Lam Chok with fraud, money laundering, and promoting unlicensed virtual asset investments. The case, involving over 2,700 victims and losses exceeding HK$1.6 billion (US$205 million), marks one of the city’s biggest crypto frauds.
From Influencer to Defendant
Once a popular promoter of “safe and easy” crypto profits, Lam’s association with JPEX helped attract thousands of investors. The platform, launched in 2020, was never licensed under Hong Kong’s virtual asset regime. Investigators allege Lam and others profited while users were unable to withdraw funds, with some fees reaching 999 USDT per transaction.
Crackdown Expands
Police have now arrested over 80 individuals, seizing HK$228 million in assets. Interpol has also issued Red Notices for suspects who fled overseas. Authorities say the case highlights the growing risk of influencer-led promotions in unregulated crypto markets.
Hong Kong’s regulators are tightening oversight under new anti–money laundering laws — signaling a strong message: crypto accountability has arrived.
#JPEX
#CryptoScandal
#JosephLam
#CryptoNews
Hong Kong Charges 16 in Record $205M JPEX Crypto Fraud Case; Interpol Pursues 3 Fugitives
In what’s being called Hong Kong’s largest-ever financial fraud, authorities have charged 16 individuals, including former lawyer and social media influencer Joseph Lam, over their alleged involvement in the JPEX cryptocurrency scandal.
The scheme reportedly defrauded over 2,700 investors out of HK$1.6 billion ($205.8 million). Police said the accused face charges of conspiracy to defraud, fraudulent inducement to invest, and money laundering, according to the South China Morning Post.
Meanwhile, Interpol has issued red notices for three additional suspects believed to have fled abroad. The investigation continues as authorities tighten oversight on crypto exchanges operating within the region.
#JPEX #CryptoFraud #HongKong #interpol #CryptoNews
In what’s being called Hong Kong’s largest-ever financial fraud, authorities have charged 16 individuals, including former lawyer and social media influencer Joseph Lam, over their alleged involvement in the JPEX cryptocurrency scandal.
The scheme reportedly defrauded over 2,700 investors out of HK$1.6 billion ($205.8 million). Police said the accused face charges of conspiracy to defraud, fraudulent inducement to invest, and money laundering, according to the South China Morning Post.
Meanwhile, Interpol has issued red notices for three additional suspects believed to have fled abroad. The investigation continues as authorities tighten oversight on crypto exchanges operating within the region.
#JPEX #CryptoFraud #HongKong #interpol #CryptoNews
Evening News Update #Web3
🇭🇰 Hong Kong police freeze ¥228M in #JPEX crypto fraud. Commissioner: funds locked until case concludes, new virtual asset tracking tool developed with universities.
📉 #CME trader: Bitcoin weakness from post-peak selling and institutions liquidating to cover Nasdaq margin calls. BTC-gold correlation breaking despite crypto's accelerating maturity.
⚖️ Ex-#OpenAI employees back Musk lawsuit to preserve nonprofit status. Argue corporate control would contradict mission and hurt talent recruitment.
📊 Markets watch Fed speakers, China GDP, Powell speech amid "shorting US" sentiment. March retail sales (+1.4% expected) to show consumer reaction to tariff policies.
🗣️ #CZ hits back at WSJ: "They forgot who went to jail and who didn't. Government witnesses don't go to jail." Claims "someone paid WSJ to discredit me."
🇭🇰 Hong Kong police freeze ¥228M in #JPEX crypto fraud. Commissioner: funds locked until case concludes, new virtual asset tracking tool developed with universities.
📉 #CME trader: Bitcoin weakness from post-peak selling and institutions liquidating to cover Nasdaq margin calls. BTC-gold correlation breaking despite crypto's accelerating maturity.
⚖️ Ex-#OpenAI employees back Musk lawsuit to preserve nonprofit status. Argue corporate control would contradict mission and hurt talent recruitment.
📊 Markets watch Fed speakers, China GDP, Powell speech amid "shorting US" sentiment. March retail sales (+1.4% expected) to show consumer reaction to tariff policies.
🗣️ #CZ hits back at WSJ: "They forgot who went to jail and who didn't. Government witnesses don't go to jail." Claims "someone paid WSJ to discredit me."
Login to explore more contents