Hong Kong police have arrested over 70 people in the $200 million crypto scandal of JPEX.
According to the Hong Kong police, a total of 2,636 reports have been received for the JPEX scandal, which amounts to a total of 1.6 billion Hong Kong Dollars.
The local regulatory authority had announced last September that the crypto exchange JPEX was operating without a license and accused the platform of facilitating suspicious transactions.
JPEX continued its operations despite the allegations and charged high transaction fees to users attempting to withdraw funds from the platform.
As reported by SCMP, the Hong Kong police have arrested 72 individuals so far and seized 228 million Hong Kong Dollars (29.1 million dollars).
