Troubled cryptocurrency exchange JPEX recently launched a plan to transform its platform into a decentralized autonomous organization (DAO) and convert user assets into dividend stocks, while encouraging users to lock up their assets for two years. JPEX said the plan completed voting on September 28, with 68% of users voting in favor. However, an anonymous JPEX user told the South China Morning Post that her assets were converted without her consent or prior knowledge.

Hong Kong police and the Hong Kong Securities and Futures Commission have established a joint working group to crack down on illegal cryptocurrency trading activities. Meanwhile, the JPEX scandal continues to unfold. JPEX’s dividend plan comes as Hong Kong police arrested multiple people related to the exchange as it was accused by the region’s securities regulator of operating an unauthorized crypto platform. Hong Kong police said the Dubai-based exchange defrauded at least 2,300 people out of HK$1.4 billion ($178 million).