In a recent development, police in Hong Kong and Macau have apprehended four more individuals linked to the ongoing JPEX crypto exchange case, as reported by the South China Morning Post on Friday.
Of the four arrests, two took place in Hong Kong, while Macau Police made the remaining two. This brings the total number of arrests in connection with the scandal to eighteen, including several individuals believed to be closely tied to the core operations.
These developments coincide with a warning issued by the Securities and Futures Commission (SFC) regarding another unlicensed virtual asset trading platform, FUBT Exchange, which is thought to be related to JPEX. The commission stated that the company provided a fake Hong Kong phone number in an attempt to create the illusion of a presence in the city.
FUBT Exchange was added to a list of suspicious virtual asset trading platforms by the SFC on September 22, as indicated on the commission's website. Subsequent checks suggest that the platform's website is no longer accessible,
According to the SCMP report, two 29-year-olds were detained in Macau, where authorities confiscated HK$6.5 million (US$830,390) in cash and valuables. Additionally, HK$8.2 million has been frozen in their casino accounts. Macau police said the two were owners of cash-for-crypto shops.
Hong Kong police made additional arrests, detaining two 28-year-old men. One of them, surnamed Tang, was discovered in an apartment along with documents that seemed to have been shredded and treated with bleach in a bathtub.
In addition to these findings, another suspect surnamed Wong, was apprehended as authorities searched two apartments that contained a substantial volume of documents. Unauthorized Visa cards bearing theRead more on cryptonews.com