The virtual asset trading platform JPEX was involved in illegal operations, and the police arrested 11 people on suspicion of "conspiracy to defraud". A telecommunications provider has been unable to log on to JPEX mobile app today (20 December) and it is understood that the Police have issued instructions to local telecommunications service providers to block the JPEX mobile app.

Cryptocurrency Investigation Report・Page|JPEX involved in fraud Lin Zuo and other "currency circle" Internet celebrities were arrested

▼September 9 JPEX police arrest operation▼

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JPEX recommends that users log in to the application using a VPN network

JPEX issued an "emergency announcement" this morning, saying that the platform has received a large number of complaints from users in Hong Kong that users using HKT's "1010" and "CSL" cannot access the platform's mobile applications normally. In the announcement, JPEX suggested that customers who encounter the same situation can use the VPN network to log in to their mobile applications, or use the JPEX web version to operate, and reiterated that everything is working normally on the platform.

In February 2022, cryptocurrency platform JPEX sold advertising in Hong Kong. （Anthony Kwan / Getty Images）

Telecom providers and the police have mechanisms in place to block users from accessing suspected fraudulent websites

JPEX users were unable to withdraw funds earlier, and the SFC referred the Commercial Crime Bureau of the Police to follow up the incident, and the platform removed all transactions from the wealth management page at 18:<> am on Monday (<>th). According to the telecommunications industry and police sources, in response to the JPEX file, the Police asked local telecommunications service providers to block the JPEX mobile app so that their users could not log in.

According to the information, telecommunications providers have established a liaison mechanism with the Police to block telephone numbers suspected of fraud or stop the relevant number services based on the fraud records and website URLs provided by the Police, and block users from logging on suspected fraudulent websites.

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