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From free ice cream to one of Hong Kong’s biggest ever financial frauds: what and who is behind the mysterious JPEX?

  • Mystery surrounding JPEX’s office space adds to questions about the firm’s management, structure and ability to conduct its suspicious activities
  • JPEX offered free ice-cream and lucky dip entries to potential investors during some of its promotions

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What is behind the JPEX blackbox? Photo: Handout

The sudden implosion of crypto exchange JPEX has grabbed headlines in Hong Kong, with authorities under pressure to unravel a mess that could turn out to be the city’s largest ever financial fraud.

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But after several days of intense media scrutiny, the company itself remains something of a mystery.

A search of company registries by the Post related to JPEX in Hong Kong turned up a firm by the name of Web3.0 Technical Support, formerly known as JPEX Technical Support.

A visit on Wednesday to the listed address in Lai Chi Kok revealed that the location was a co-working space named Coffice. A staff member there told the Post they had been unaware of a company named JPEX using their premises, and that no JPEX-related entity was currently a client. Police had visited the premises a few days earlier, she added.

The mystery surrounding JPEX’s office space adds to questions about the firm’s management, structure and ability to conduct its suspicious activities in Hong Kong for so long.

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While eight individuals connected to JPEX have already been arrested in the case, which involves over HK$1 billion in missing assets, some have simply been identified as JPEX promoters.

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