JPEX crypto exchange launches asset-lock-up plan, as some users cry foul

Embattled crypto exchange JPEX has pushed ahead with a plan that will purportedly transition the platform into a decentralized autonomous organization (

JPEX’s dividend plan comes amid Hong Kong police arresting multiple people in connection with the exchange as it’s accused of operating an unauthorized crypto platform by the region’s securities watchdog.

Hong Kong police say the Dubai-based exchange defrauded at least 2,300 people of $178 million (1.4 billion Hong Kong dollars).

Earlier on Oct. 4, the region’s police and securities regulator launched a crypto-focused task force aiming to combat illicit activities by crypto exchanges.

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