This was the first case against JPEX, which operated in Hong Kong without a license.
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Hong Kong’s Securities and Futures Commission expects to issue licenses to some of the 11 crypto firms pending registration in the region.
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The plaintiffs seek to recover funds transferred out of their wallets as criminal proceedings against the exchange continue.
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Two citizens, Chan Wing-yan and Herbert Lee Sun-him, have filed the first civil lawsuit against the cryptocurrency platform JPEX, seeking to recover approximately 240,000 units of tether, worth about HK$1.85 million. This marks the first civil lawsuit since the alleged fraud was uncovered nine months ago. The plaintiffs allege unauthorized transfers of their funds shortly […]
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All unlicensed crypto exchanges have been kicked out of Hong Kong.
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Christopher Hui took the stage at Fintech Week and outlined a list of regulatory moves Hong Kong authorities are looking to implement following the JPEX scandal.
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41% of respondents said they prefer not to hold virtual assets or cryptocurrencies — up 12 percentage points from an earlier study.
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JPEX has pushed ahead with its DAO Shareholder Dividend Scheme. However, some users claim their assets are being converted without their knowledge.
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The joint group was established in light of the ongoing crypto scandal in Hong Kong involving the JPEX crypto exchange.
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The unlicensed exchange allegedly solicited than $128 million from users before being reprimanded by the Hong Kong Securities and Futures Commission.
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