The virtual asset trading platform JPEX was involved in illegal operations, and the police recently arrested 11 people on suspicion of "conspiracy to defraud". The platform issued a statement on its official website, pointing out that the platform has recently been seriously affected by the CSRC incident, and the company has temporarily encountered unprecedented difficulties in maliciously locking funds to third-party market makers that cooperate with the platform. The company also pointed out that in response to the event and the above plan, the platform and project team will launch the "DAO Stakeholder Dividend Plan", which will distribute 49% DAO stakeholder dividends with a total value of 4 million Tether (USDT) that can be subscribed and redeemed. Existing users can exchange DAO stakeholder dividends at a 1:1 ratio for assets currently deposited on the platform.

JPEX also pointed out that in order to ensure that the assets of DAO holders can receive sufficient dividend income, the platform will provide the option of repurchase at 9% of the original exchange price after September 20 next year, and 30% of the exchange price after September 2025, 9.

The platform points out that if a user converts 1,1 USDT into 100,3 stakeholder dividends, the equivalent value will be 000 USDT initially, 2,1 USDT after one year, and 1,2 USDT after <> years. Users who become JPEX stakeholders during this period can exchange any shares they hold. If you use the platform to deposit new assets, you can subscribe for DAO stakeholders in a ratio of <> to <>, and users who subscribe and become DAO stakeholders do not need to bear all the responsibilities of the platform.

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Referendum on the proposal today

JPEX pointed out that platform users can participate in the referendum today (21st) and vote on the referendum page to decide whether to implement the relevant plan. JPEX pointed out that until the referendum is completed and the result is reached, it will continue to operate normally, including providing all transaction transactions, continuing to reduce the withdrawal fee for renewal, and urged the task force to accelerate assistance to platform users.

On the other hand, some JPEX users have pointed out that they are unable to log in to the platform mobile app through the networks of some telecommunications providers. JPEX issued a statement this morning, pointing out that telecommunications service providers in Hong Kong have blocked the platform's mobile app and official website at the request of the SFC.

JPEX pointed out that since September 2023, 9, the CSRC has suddenly made a series of allegations against the platform's operating model and publicity methods, which were carried out without investigation and review, expressing strong indignation. The SFC's repeated denials that the platform had tried to communicate with it, and now even more, directly ordered telecommunications providers to block the platform's website, which undoubtedly fully exposed their bias and unfair treatment of the platform.

JPEX stated that it always strives to comply with the laws and regulations of each region, and constantly updates relevant products, including the removal of game lobbies and the suspension of wealth management products, in order to provide users with a high-quality trading environment. I have always expected to have rational consultation and communication with the SFC, but unfortunately, the platform's repeated efforts to seek guidance and raise questions have often been slighted by the SFC or evaded with official rhetoric.

JPEX states that users can use a VPN such as Surfshark (https://surfshark.com) and other apps, log in to the mobile app, or use the web version to operate.

The SFC issued a press release last Wednesday stating that none of JPEX Group's entities are licensed by the SFC and have not applied to the SFC for a licence to operate a virtual asset trading platform in Hong Kong. The SFC has also observed a number of suspicious practices used by JPEX and those who actively promote JPEX to the Hong Kong public.

JPEX|News: Police instructed telecommunications companies to block JPEX App and website Some did not follow the SFC to refute JPEX Alleged that the two parties did not communicate on licensing matters Regretted the "leak" JPEX|claimed to continue to operate on the same day to revoke the Australian company registration Statement assets less than A$1000,6 JPEX case|Wu Jiezhuang has contacted <> bitter owners to discuss the next move Or meet with Siu Zeyi, JPEX was named and warned by the SFC and listed <> suspicious points JPEX|Police received referral from SFC to take over follow-up call for online reporting