Hong Kong police say that the masterminds behind the JPEX crypto exchange scandal — which has seen victim losses balloon to $178 million — are still on the run. 11 people including influencers, YouTubers and exchange employees have now been arrested.
, who has made numerous attempts to publicly distance himself from the exchange.
Police have also arrested three employees of the JPEX Technical Support Company, along with two YouTubers, Chan Wing-yee and Chu Ka-fai — who have a combined following of more than 200,000 — in relation to the scandal. Others sought or taken in for questioning include the company's sole director Kwok Ho-lun, a restaurant director, and three celebrities who had reportedly promoted JPEX in some form in the pa.
Hong Kong’s authorities however said the ringleaders of the operation are still on the run. Police added that the investigation was continuing and further arrests were likely in the near future. Local police have also reportedly enlisted the help of Interpol and other international enforcement agencies after it identified suspicious crypto transfers being made from the JPEX exchange. Police has alsoDuring the Token2049 conference in Singapore on Sept. 13, the JPEX team allegedly abandoned its corporate booth after Hong Kong police arrested six employees on charges of fraud for operating an unlicensed crypto exchange.
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