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JPEX cryptocurrency scandal

JPEX cryptocurrency scandal

The latest news, analysis and opinion on JPEX cryptocurrency scandal. In-depth analysis, industry insights and expert opinion.

Government aims to complete legislative amendments in the coming year and start automatic exchange of tax information starting in 2028. Photo: Shutterstock

Banking & finance

Hong Kong eyes info sharing on crypto assets to combat tax fraud, evasion

Compliance with OECD framework is of ‘paramount importance’ to maintain Hong Kong’s reputation as a finance hub, secretary says.

9 Dec 2025 - 7:30PMvideocam

Hong Kong courts

15 in court over Hong Kong’s record HK$1.6 billion cryptocurrency fraud

7 Nov 2025 - 12:20AM

Hong Kong courts

Hong Kong court orders HK$1.85 million recovery in first civil suit against JPEX

29 Oct 2024 - 9:31PM

Hi-tech fraud: here are the technologies changing the face of scams in Hong Kong

Emerging technologies like deepfakes, large language models and cryptocurrencies have made fraud easier than ever, with Hong Kong proving particularly vulnerable.

9 Aug 2024 - 10:00AM

Emerging technologies have allowed for more sophisticated digital fraud that is becoming harder to detect before it is too late. Photo: Shutterstock

Crime in Hong Kong

Hong Kong JPEX scandal: pair launch civil claims in bid to recover HK$1.8 million

Plaintiffs Herbert Lee and Chan Wing-yan have launched the first civil action against platform involved in an alleged HK$1.6 billion financial fraud.

4 Jun 2024 - 5:10PM

Crime in Hong Kong

72 arrested, HK$228 million in assets frozen in Hong Kong JPEX crypto scandal

Providing update on city’s largest alleged fraud, police chief Raymond Siu also says force has received 2,636 reports regarding case, with about HK$1.6 billion involved.

19 Apr 2024 - 2:09PM

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Hong Kong vows to regulate stablecoins, over-the-counter crypto shops

The government will submit a bill on licensing rules for stablecoin issuers and OTC trading services to the legislature ‘as soon as practicable’, says the city’s financial affairs chief.

23 Feb 2024 - 6:30PMvideocam

Hong Kong’s financial affairs and treasury chief says the government plans to submit legislative proposals to regulate stablecoins and over-the-counter crypto trading. Photo: AFP

Hong Kong economy

Hong Kong authorities propose licensing regime for virtual asset exchange stores

Financial Services and the Treasury Bureau launches public consultation for proposed regulations covering over-the-counter traders, in bid to clamp down on crypto scams.

9 Feb 2024 - 12:09AMvideocam

Hong Kong joins many governments in beefing up crypto rules: report

In 2023, 17 jurisdictions including Hong Kong, the EU, South Korea, Singapore, and the US, tightened cryptocurrency regulations, according to a report by TRM Labs.

9 Jan 2024 - 9:34AM

Financial regulation

Hong Kong to push retail access to spot cryptocurrency exchange-traded funds

This initiative shows Hong Kong policymakers’ determination to rebuild investor confidence in virtual assets, following a number of major financial scandals involving cryptocurrencies.

26 Dec 2023 - 8:00PMvideocam

Spot cryptocurrency exchange-traded funds enable investors to gain exposure to virtual assets without directly buying any crypto tokens. Photo: Shutterstock

Crime in Hong Kong

Hong Kong’s securities watchdog blacklists 2 suspect cryptocurrency websites

Websites HongKongDAO and BitCuped placed on alert list after they were suspected of spreading false information, the SFC says.

7 Dec 2023 - 12:10AM

HongKongDAO sold a digital token named “HKD”, the SFC said. Photo: Yik Yeung-man

Banking & finance

Editorial | Price of online scams too high for city to pay

Scandals involving virtual trading platforms, bogus sales and other fraudulent methods do nothing for Hong Kong’s reputation.

29 Nov 2023 - 6:30AM

Hong Kong virtual insurer OneDegree on track to turn a profit in 2024: CEO

Fintech start-up OneDegree’s optimistic projection stems from the positive performance of the company’s household pet and digital-asset insurance operations.

9 Nov 2023 - 8:00AM

Forget crypto: Hong Kong Web3 events focus on what’s next for blockchain

Major Web3 events in Hong Kong have been focusing more on Web3 usability and use cases like identification, content ownership and video gaming.

30 Oct 2023 - 1:03PMvideocam

Animoca Brands co-founder and chairman Yat Siu gives an interview during the Edge Summit at Hong Kong’s AsiaWorld-Expo on September 26, 2023. Photo: SCMP/ Matt Haldane

Opinion | Hong Kong’s cryptocurrency retail investors must be better protected

The Securities and Futures Commission has put up guard rails but Hong Kong still lacks a cohesive education and protection ecosystem to underpin the regulation, as JPEX fraud case shows.

22 Oct 2023 - 5:30AMvideocam

A cryptocurrency exchange office in Hong Kong on May 27. Photo: AFP

Crime in Hong Kong

Hong Kong must address money-laundering risks for crypto changers: customs chief

Commissioner Louise Ho stops short of saying whether her agency, which oversees other money changers, will be tasked with regulatory review of cryptocurrency shops.

21 Oct 2023 - 5:35PM

BC Technology denies it is selling HK$1 billion OSL crypto exchange

BC Technology has rejected a report that it is looking to sell OSL, one of two licensed Hong Kong crypto exchanges and the firm’s main revenue source.

18 Oct 2023 - 12:41AMvideocam

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Hong Kong’s trust in crypto assets plunges after JPEX scandal, survey finds

Hongkongers’ attitudes towards virtual assets have soured following fallout from the implosion of JPEX, a survey found, highlighting the challenges the city faces in its efforts to embrace this volatile industry.

17 Oct 2023 - 5:00PM

Crime in Hong Kong

Hong Kong JPEX cryptocurrency scandal exposes regulatory ‘loopholes’: victims

Victims say they were influenced by army of celebrities, blanket advertising and cryptocurrency investing education centres.

13 Oct 2023 - 12:53AMvideocam

Retail interest in virtual assets grows but education lags, survey finds

As retail investment interest in virtual assets grows, investor education lags in the city, according to recent research.

12 Oct 2023 - 8:00AM

Crime in Hong Kong

‘Crypto investors need education’: Hong Kong YouTuber after JPEX allegations

There were early red flags over cryptocurrency platform at the centre of HK$1.5 billion fraud scandal, says YouTuber.

10 Oct 2023 - 11:29PM

Cryptocurrency YouTuber Leo says he was beaten up in the street just weeks after he raised red flags over the JPEX trading platform. Photo: Jonathan Wong

Hong Kong economy

Vigilance is the best way to beat the scammers

The current investigation into the JPEX scandal in Hong Kong is a timely reminder that cybersecurity is a team effort.

9 Oct 2023 - 7:45AM

The number of arrests and estimates on losses continue to mount as police investigate Hong Kong’s largest alleged financial fraud involving cryptocurrency platform JPEX. Photo: Bloomberg

Crime in Hong Kong

Hong Kong JPEX cryptocurrency scandal: suspect arrested on arrival at airport

While identity of suspect not known, individual known as Henry Choi, or ‘Tung Gei’ says on Instagram he was returning to city ‘to explain the truth to the public’ and help police with investigation.

8 Oct 2023 - 10:33PM

Hong Kong’s crypto power players applaud Web3 regulation after JPEX scandal

A group of 10 cryptocurrency industry executives, including Animoca Brands co-founder Yat Siu, has published a public letter endorsing the government’s commitment to Web3.

6 Oct 2023 - 6:00PM

Opinion | Why JPEX scandal won’t derail Hong Kong’s cryptocurrency ambitions

The silver lining is that Hong Kong has a licensing regime capable of addressing the regulatory challenge JPEX exposed, making it safer for retail investors in an industry maturing beyond mere speculation.

5 Oct 2023 - 6:03AMvideocam

Venture capital market

Exclusive | Hong Kong crypto venture capital firm CMCC Global launches US$100 million fund

CMCC Global, a Hong Kong-based venture capital firm, has raised US$100 million for a new fund aimed at backing Asian blockchain start-ups amid Hong Kong’s virtual asset push, despite the recent JPEX scandal.

4 Oct 2023 - 6:30PM

Visitors attend the Web3Hub and Blockchain Labs during the Hong Kong WEB 3 Festival 2023. Photo: Yik Yeung-man

Crime in Hong Kong

‘Just waste paper’: Hong Kong JPEX users unable to withdraw assets under new plan

Police arrest two more suspects linked to fast-growing case of alleged fraud involving more than HK$1.5 billion in assets.

4 Oct 2023 - 9:36PM

Futu Holdings warns of crypto impostors in wake of JPEX

Futu Holdings, an online Chinese brokerage backed by Tencent, has warned that malicious sites are imitating its brand after three alleged domains were flagged by the city’s financial regulator.

2 Oct 2023 - 10:36PMvideocam

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