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Hong Kong Arrests Crypto Influencer in JPEX Fraud Probe

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Source: Cointelegraph
Hong Kong Arrests Crypto Influencer in JPEX Fraud Probe
Photo: Cointelegraph
TL;DR

Hong Kong police have arrested crypto influencer Joseph Lam, also known as "jolamchok" on Instagram, for his association with the crypto exchange JPEX. Lam's arrest comes after investigations into the liquidity crisis of JPEX, with the police raiding his office and seizing evidence. The Securities and Futures Commission of Hong Kong has blamed JPEX for promoting its services through online celebrities. Lam is accused of presenting investment schemes to a cryptocurrency chat group, convincing one victim to invest HKD 100,000. JPEX has blamed regulators and third-party market makers for the liquidity crisis and plans to recover liquidity and adjust withdrawal fees.

Topics:businesscryptocurrency#arrest#crypto-influencer#cryptocurrency#hong-kong#jpex#liquidity-crisis
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  1. Crypto influencer arrested in Hong Kong for JPEX association  Cointelegraph
  2. Hong Kong Probe Into Crypto Exchange JPEX Results in Arrest  CoinDesk
  3. Hong Kong arrests 6 people in fraud investigations linked to JPEX  South China Morning Post
  4. Hong Kong central bank warns against crypto firms using banking terms  Cointelegraph
  5. Crypto Platform JPEX Shuts Down Trading Amid Hong Kong Probe  Yahoo Finance
  6. View Full Coverage on Google News

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