Police probe HK crypto exchange after users lose $15M to scams

Hong Kong’s Securities and Futures Commission listed the Hounax exchange as suspicious this month after it faked ties with a VC firm.
Hong Kong’s Securities and Futures Commission listed the Hounax exchange as suspicious this month after it faked ties with a VC firm.
The man is one of four recent arrests in connection to JPEX, the Dubai-based crypto firm that has seen losses of up to $191 million.
Hong Kong-based JPEX has suspended trading and seen one person arrested amid claims it’s been operating in the country without a license.
The victim says she was handed a bundle of fake notes in return for $128k in tether while the shop’s ‘owner’ fled through a back door.
Only OSL Exchange and HashKey Pro have been registered by Hong Kong’s Securities and Futures Commission but Huobi and OKX have also applied.