Hong Kong Police Announce JPEX Fraud Case Update: 80 Arrested, Assets Worth HK$228 Million Frozen

AirdropBlackHole · 2026-03-26T17:51:02+00:00

Hong Kong police have arrested 80 individuals and frozen assets worth HK$228 million in their ongoing investigation into the JPEX fraud case, which involves over 2,700 victims and approximately HK$1.6 billion in fraudulent funds.

AirdropBlackHole

2026-03-26 17:51:02

Abstract generation in progress

On March 26, according to a report by Hong Kong Commercial Daily, Hong Kong police announced the progress of their investigation into the virtual asset trading platform JPEX fraud case. They revealed that since the investigation began in September 2023, a total of 80 people have been arrested, and assets worth approximately HK$228 million have been frozen. On March 26, another round of prosecution actions was taken, charging 10 individuals with “money laundering” and “conspiracy to commit money laundering.” Chief Inspector Hon Shing-ho of the Commercial Crime Bureau of the Hong Kong Police stated that the JPEX case is one of the cases with the largest number of victims and the largest amount of fraudulent funds in Hong Kong in recent years. Over 2,700 victims have reported cases, involving over HK$1.6 billion. Since the incident, no company or individual has been identified as the true operator. The police need to conduct extensive investigations to identify the masterminds, core members, or accomplices in the JPEX case.

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