JPEX Fraud Case Update: Three suspects approved for bail, re-interview scheduled for January next year

LiquidityWitch · 2025-12-18T11:00:10+00:00

The fraud case of the virtual asset trading platform JPEX has attracted attention, with three involved individuals granted bail. The case involves charges of money laundering and obstruction of justice. Relevant persons have been prosecuted, and investors are advised to exercise caution when choosing trading platforms.

LiquidityWitch

2025-12-18 11:00:10

Abstract generation in progress

【Crypto World】The scam case involving the virtual asset trading platform JPEX continues to escalate. On December 18, 2023, three suspects involved in the case were granted continued bail in court, including a 27-year-old student and two 30-year-old professionals. The case involves multiple charges, ranging from money laundering to obstruction of justice.

One of the suspects is charged with money laundering involving an amount of up to HKD 7.79 million, spanning from August to December 2023. His case has been transferred to a higher court and is scheduled to be back in court on January 8, 2024. The other two suspects face charges of obstructing justice, with one also involved in money laundering and disposal of valuable assets—including approximately HKD 880,000 in cash and luxury watches valued at about HKD 240,000. Their cases will continue on January 16, 2024.

JPEX was exposed in 2023 for allegedly engaging in large-scale scams, leading to charges against 16 individuals. As judicial proceedings progress, more details are emerging, serving as a reminder for investors to carefully verify the credentials and backgrounds of trading platforms when making choices.

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BoredWatcher

· 2025-12-20 19:01

Another headache with JPEX... 7.79 million HKD money laundering, plus a set of luxury watches and cash, really knows how to play HKD cash and Rolex, this seems like an escape plan, how come they still dare to renew bail 16 people have been charged, this scam case is much bigger than I thought, no wonder it's causing such a stir Let's wait for the verdict in January next year and see how these people will end up, it will probably be several years again Honestly, I just can't understand how such platforms can still scam people, do users really have no awareness of prevention? Renew bail or not, in the end, they will still have to go in. Hang in there, everyone

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MrDecoder

· 2025-12-20 12:07

7.79 million HKD, is that how you wash it... truly impressive --- 27-year-old students can get involved in such major cases? Really bold --- Luxury watches, cash, HKD... is this treating fraud as shopping --- Wait until next January, but it feels like the ending is already doomed --- JPEX really scammed quite a few people back then, only now are they slowly getting caught --- How did two 30-year-old office workers go astray? Is it worth it, brother? --- 88,000 HKD in cash wasn't even well hidden, this brain is concerning --- Continuing bail review... how long will this lawsuit process drag on? --- Starting with 7.79 million HKD in money laundering charges, indeed a big move --- Daring to add another charge for obstructing justice, this is a self-destructive move

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Fren_Not_Food

· 2025-12-20 01:55

7.79 million HKD money laundering? Watchs are even brought out, this method is really clever --- Another extension of bail, it seems these people are quite confident --- The 2023 crashes are still happening, JPEX is a pretty deep hole --- 16 people have been indicted? Cryptocurrency scams are just so outrageous --- Wait, a student is also involved? What kind of operation is this --- Luxury watches, cash, HKD... both the evidence and the suspects, and still extending bail? --- Re-trial in January next year, this delaying tactic is very skillful --- Leaving 880,000 cash still daring to keep it, are they not afraid of being investigated or is it untraceable

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TokenomicsShaman

· 2025-12-18 11:30

7.79 million HKD just like that? Truly bold. And luxury watches, the guy really treats the court as a decoration. JPEX should have been thoroughly investigated long ago; there's no escaping it. Sixteen people have been sued and are still renewing insurance; the Hong Kong judicial system is quite lenient. The stolen money and luxury watches have all been seized, just waiting for the verdict.

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SatoshiHeir

· 2025-12-18 11:29

7.79 million HKD money laundering, still on bail? Obviously, the legal loopholes here are worth a deep investigation. This is why I have always said that exchange governance needs on-chain transparency—such black box operations are simply not present in the Satoshi Nakamoto white paper. The 16 people suing is just the beginning; on-chain data shows that cases like this usually lead to more clues, judge for yourselves. A luxury watch worth 880,000 in cash? Laughable. These people don't even understand basic anti-money laundering logic, yet they dare to touch the red line of justice. It should be pointed out that incidents like JPEX precisely disprove some naive theories that "decentralization can self-regulate."

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ApeWithNoFear

· 2025-12-18 11:25

7.79 million HKD money laundering, plus luxury watches and cash. This trickery is really on point. That's just the beginning, 16 people have been prosecuted, feels like it's just starting. Just renewing bail and it's over? Come back next year, keep dragging it out. The name JPEX will now be synonymous with scams. Who would dare to touch it again?

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memecoin_therapy

· 2025-12-18 11:10

7.79 million HKD money laundering? How convincing must the scam be for that to happen, truly impressive. The JPEX mess is still ongoing. When will there be a definitive crackdown? I'm curious about how the 880,000 in cash and the luxury watch were hidden. That’s quite a unique idea. Both HKD and luxury watches—feels like a wealthy fugitive's typical escape plan. Just extend the bail, since all the money has already been spent.

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