JPEX scam case postponed again: Eight influencers charged with conspiracy to commit fraud, over 2,700 people lost their entire savings

【CryptoWorld】Hong Kong prosecutors have just notified that the trial progress of the JPEX scam case has been postponed again—rescheduled for March 16 next year to allow time for case file organization. This case is somewhat complex, with eight defendants—all social media influencers—facing multiple charges including conspiracy to commit fraud. The pre-trial bail procedures have already been conducted, with seven granted bail and one still detained.

Let’s review how this platform went off the rails. JPEX itself did not hold a legitimate license; in 2023, the Hong Kong Securities and Futures Commission issued a public warning, and the platform subsequently shut down. What were the consequences of this shutdown? Over 2,700 investors suffered losses, involving more than $206 million. The numbers are quite staggering.

Another detail involved in the case is the participation of international law enforcement. Three main suspects related to the case have been placed on Interpol’s red notice list, indicating significant challenges in cross-border pursuit. This combination of an unlicensed platform and influencer promotion often results in systemic fraud once something goes wrong, with the number of victims and the scale of losses likely to explode.