Hong Kong blocks access to JPEX’s website and app amid probes

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By BitcoinWiki News

Key Takeaways:

– Hong Kong authorities have asked local telecoms providers to block online access to JPEX, a troubled cryptocurrency exchange.
– Local police have detained at least 11 individuals and raided multiple locations, seizing assets related to the case.
– JPEX claims that Hong Kong’s Securities and Futures Commission unreasonably blocked their mobile application and website without investigation.
– With its platform blocked, JPEX suggests users use a virtual private network (VPN) service to gain access.
– The police investigation follows warnings from the SFC that JPEX made false or misleading statements on social media.
– JPEX has suspended some operations and raised withdrawal fees due to an ongoing liquidity crisis.
– Users have filed 1,641 complaints amounting to around HK$1.19 billion ($152 million) of assets involved in the case.
– JPEX plans to launch a DAO Stakeholders Dividend Plan, allowing users to convert their assets to DAO stakeholder dividends at a 1:1 ratio.
– New users will receive double the payout if they subscribe to the DAO stakeholder dividends.
– JPEX emphasizes that DAO Stakeholders do not bear all operational responsibilities of the platform.


Hong Kong authorities have requested local telecoms providers to block access to JPEX, a troubled cryptocurrency exchange. The police have detained 11 individuals and raided multiple locations, seizing assets related to the case. JPEX claims that the Securities and Futures Commission (SFC) has unreasonably blocked its mobile application and website without investigation. With its platform blocked, JPEX is advising users to use a virtual private network (VPN) to gain access. The police’s investigation stemmed from the SFC’s warning that JPEX and crypto influencers made false or misleading statements on social media. JPEX recently suspended some operations and raised withdrawal fees due to a liquidity crisis. The police have received 1,641 complaints regarding JPEX, totaling approximately $152 million in assets. In response to the situation, JPEX plans to launch a DAO Stakeholders Dividend Plan, allowing users to convert their assets on the platform to DAO stakeholder dividends. JPEX aims to distribute 49% of the dividends, valued at around $400 million, and plans to offer repurchase options in the future.

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