Crypto Opinions & News The JPEX Crypto Scandal

Disclaimer: Any information contained on this forum is provided as general market commentary, and does not constitute investment, financial, trading or other sort of advice.


Thread author
Staff Member
Malware Hunter
Jul 27, 2015

Police in Hong Kong and Macau on Friday said they had arrested four people “relatively close to the core” of under-investigation cryptocurrency platform JPEX in a dramatic bust in which one man detained was found in a flat with documents shredded and bleached in the bath.

The Hong Kong Police Force revealed it was tracking down other fugitives in connection with fraud and money-laundering offences. The developments came as the Securities and Futures Commission (SFC) warned investors about another unlicensed virtual asset trading platform, FUBT Exchange.The commission said the company provided a fake Hong Kong phone number to make it appear it had a presence in the city.

FUBT Exchange was added to a list of suspicious virtual asset trading platforms on September 22, according to the SFC’s website. A check by the Post suggested the platform’s website could no longer be accessed. Mainland Chinese media reports showed that a platform of the same name went bust in May 2020.The city’s police said two Hongkongers, both 29, had been detained in Macau with HK$6.5 million (US$830,390) in cash and valuables seized, along with HK$8.2 million frozen in their casino accounts in connection with the JPEX investigation. Macau police said the two were owners of cash-for-crypto shops.

About us

  • MalwareTips is a community-driven platform providing the latest information and resources on malware and cyber threats. Our team of experienced professionals and passionate volunteers work to keep the internet safe and secure. We provide accurate, up-to-date information and strive to build a strong and supportive community dedicated to cybersecurity.

User Menu

Follow us

Follow us on Facebook or Twitter to know first about the latest cybersecurity incidents and malware threats.