The police launched an investigation into the JPEX case, and earlier arrested Lin Zuo, KOL "Chen Yi", "Xiang Xiang" and others, and launched a joint operation in Hong Kong and Macao in the past three days to arrest four more people, of which two were arrested in Macao on suspicion of money laundering, and all four had no triad background. A total of 4 people have been arrested so far, all of them Hong Kong residents. To date, 2,4 victims have been reported to the police, involving over $18.2 billion. The Police also pointed out that the more core figures of the group have been targeted, and those who have been arrested and are wanted play a more important role in the fraud, and the main purpose of the investigation is to find out the mastermind behind the JPEX case and do their best to recover the stolen funds.
This afternoon (417th), the Police will hold a press conference to explain the details of the case, with Assistant Commissioner of Police (Crime) Chung Wing-man, Chief Superintendent of the Cyber Security and Technology Crime Bureau Ms Cheng Lai-ki and Chief Superintendent of the Commercial Crime Bureau Yau Kin-hung attending the press conference, which will be broadcast live on Hong Kong 15.
[16:06] The police did not explain the role of the latest four arrests, but pointed out that the police first learned about OTC members and have now slowly entered the core part of the JPEX scam network.
【16:03】The whole operation arrested 16 people in Hong Kong and two people in Macao, all Hong Kong residents.
[16:02] The police have no way of estimating how much evidence has been destroyed or disposed of. She stressed that the police will not underestimate the difficulty of the investigation, so they mobilized all officers of the Criminal Department to participate in the investigation, hoping to grasp the identities of all those behind the scenes and recover the money involved as soon as possible.
[15:55] The investigation has gone to the more central figures, but it is still investigating whether the mastermind behind the scenes is a person or a group of people.
[15:53] The two arrested people in Macau have been brought to the Macau court, and the Hong Kong police will discuss with the Macau law enforcement agencies and will find out what the Macau court has decided, such as sentencing the two to detention, the police may have to wait longer, but if Macau decides to expel the two Hong Kong people from Macau, the Hong Kong police will arrest them as soon as they return to Hong Kong.
[15:52] Assistant Commissioner of Police (Crime) Chung Wing-man responded to questions about the role of fugitives, pointing out that the police investigation has gone to the core of the group, and those who are being tracked down play an important role in the fraud network. Through the International Policing Co-operation Mechanism, the Police will aim to bring to justice those involved who have left Hong Kong.
[15:49] However, Cheng said that due to the criminal syndicate will destroy a large number of documents and information, and there are thousands of e-wallets involved, and the relevant cryptocurrencies are transferred to multiple e-wallets and different overseas cryptocurrency trading platforms in a short period of time, the police investigation is facing certain difficulties. When the police trace the movement of cryptocurrencies, although the blockchain shows the whereabouts of the relevant transactions, the anonymity of the cryptocurrency wallets themselves makes it difficult for the police to recover the funds and investigate. However, after intelligence analysis and contact with trading platforms in different places to exchange information, the police have temporarily frozen cryptocurrency assets worth about HK$500 million. Police continue to fight with virtual asset exchanges (VASPs) around the world to recover more virtual assets and are waiting for some trading platforms to respond.
Cheng pointed out that JPEX is involved in false statements, including falsely claiming to be licensed or issued VISA cards, and using over-the-counter money changers (OTCs) and influencers to create an atmosphere to attract investors, but the JPC coins issued by her company are extremely liquid. JPEX can also control the assets of customers, arbitrarily control the handling fee of user withdrawals, so that a large number of users cannot get back the relevant assets, so as to carry out fraud. She emphasised that the Police would continue to make every effort to trace the whereabouts of the persons involved and to trace the assets of the fraud syndicate.
【15:47】Chief Superintendent of the Cyber Security and Technology Crime Bureau Cheng Lai-ki pointed out that the victim in the JPEX case was tricked into going to different cryptocurrency money changers (OTC), buying different cryptocurrencies by cash or bank transfer, and transferring the cryptocurrencies to the JPEX platform for JPEX escrow; Some people have transferred their own cryptocurrency holdings to JPEX escrow. One of the primary focuses of the police investigation is to trace the e-wallets used by JPEX to receive virtual assets invested by victims, so as to trace the flow of funds and intercept fraudulent funds as soon as possible. Apart from exchanging information with overseas virtual asset platforms, the Police also obtained information through victims' confessions to identify and trace the e-wallets of crime syndicates.
【15:46】The police have identified other targets, but some have left Hong Kong, and the police will make every effort to arrest those involved through international assistance.
【15:44】 In Hong Kong, the police obtained a court warrant to search six targeted units, arresting a 6-year-old man surnamed Tang in one of the units, seizing $28,88 in cash and two expensive watches, and finding a large number of documents destroyed by shredders, fire and suspected bleach. Police also seized cash, gold bars and expensive watches with a total value of about $3.870 million in three other targeted units, including the residence of a man arrested in Macao surnamed Lo in Hong Kong. A large number of documents, including VISA cards bearing the word JPEX but not authorized by the credit card company, were also seized at the remaining two targeted sites, and another 28-year-old man surnamed Huang was arrested.
【15:42】During the operation from Tuesday to Thursday, police in Hong Kong and Macao arrested a total of 4 people and seized or froze 2400 million assets. Among them, the Macao Judicial Police detained two 29-year-old men, surnamed Lu and Ho, respectively, for 600 million yuan in casino chips, watches and 7,50 yuan in cash from Lu Nan, and 300,520 yuan in casino chips from He Nan. The police froze He Nan's account in the casino, which contained 820 million; and 650.<> million in the accounts of another fugitive target man. In other words, the Macau operation detained two people, frozen <>.<> million casino accounts and seized more than <>.<> million yuan in cash and chips.
【15:39】The JPEX case is the fraud case involving the largest number of victims and the largest amount of losses in recent years, and the police have so far received 2417,15 reports and lost more than HK$<>.<> billion. The Police attach great importance to the case and use all the resources of the Crime Division to participate in the investigation, and in order to integrate information more effectively, the Police have launched the "supercomputer" system for investigation. The main purpose of the police investigation is to find out who is behind the JPEX case and to do their best to recover the stolen money.
Police show evidence seized in the case
Persons arrested in connection with the case
A number of officers visited the police station to assist in the investigation
JPEX case|KOL Xiang Xiang is OTC "UNICOIN" on-site analyst many times filmed to publicize JPEXJPEX case|Police detained 3 more people, a total of 15 people were arrested So far, 2407 people have been reported to be involved in the $14.9 billion JPEX case|Police detained a 23-year-old director of OTC store "Lupin" A total of 12 people arrested JPEX case|News: Police Cybercrime Bureau will try to ask social platforms to remove JPEX accounts JPEX case|Metaphysicist Chen Ding helped the police chief to assist in the investigation and left Call everything to a lawyer