Article8 months ago

Crypto Influencer Arrested for Promoting Rug-Pulled Crypto Platform in Hong Kong

Crypto Influencer Arrested for Promoting Rug-Pulled Crypto Platform in Hong Kong
Summary
  • Hong Kong police have arrested crypto influencer Joseph Lam Chok for his involvement in promoting the JPEX crypto platform.
  • JPEX is believed to have conducted a rug-pull, leading to customer losses of approximately $34 million.
  • The arrest follows increased scrutiny from Hong Kong authorities on unregistered exchanges and crypto scams.
  • The Chinese Securities Regulatory Commission (CSRC) referred the case to the police after receiving over 80 complaints about JPEX.
  • The arrest highlights the need for stricter regulations and oversight in the crypto industry to protect investors from fraudulent schemes.

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