JPEX last year announced Cheung would serve as trading platform’s local ‘brand ambassador’, as part of wider promotional campaign
Authorities have also asked internet providers to block JPEX website to stop cryptocurrency exchange from continuing to lure customers
JPEX last year announced Cheung would serve as the platform’s local “brand ambassador”, as part of a wider promotional campaign. In a press release issued in February, the company said it had spent more than HK$40 million on advertising in the city.
Police have also asked internet providers to block the website of JPEX to stop the cryptocurrency exchange from continuing to lure customers after ensnaring them in the scandal even as the platform debuted a new dividend plan for investors.
The actions follow the arrest of another three men on Wednesday by officers from the commercial crime bureau, bringing the total number of suspects detained in connection with the case to 11.
The three men, aged 25 to 32, include a 31-year-old YouTuber. They were still in police custody as of Thursday morning.
A Post check found that the JPEX site could not be reached through CSL, 1010, Netvigator, SmarTone and Birdie since Wednesday evening. As of Thursday 11am, the site was also unavailable through HKBN.
JPEX accused the Securities and Futures Commission of asking internet service providers in the city to “unreasonably” block its mobile app and official website, while advising users to obtain a VPN to access the site.
The securities commission on Wednesday also issued a statement condemning the trading venue’s move to publicise confidential correspondence with the regulator. It warned JPEX that it had breached the secrecy and confidentiality provisions of the Securities and Futures Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
The commission launched a new licensing regime for virtual asset trading platforms in June, mandating that exchanges servicing retail customers apply for and receive approval within a one-year grace period.
On Wednesday, it accused JPEX of ignoring rules under the regime and reiterated that the platform had never made contact with the regulator regarding potential authorisation.
A Post check found that a company registered in Australia under “JP-EX Crypto Asset Platform Pty Ltd” applied to regulator the Australian Securities and Investments Commission (ASIC) for voluntary deregistration on Tuesday, a day after Hong Kong police arrested eight people in connection with the JPEX case.
The eight suspects – four men and four women – have been released on bail pending further investigation.
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