First Civil Lawsuit Filed Against Crypto Platform JPEX (HK) for Alleged Fraud
This marks the first civil lawsuit since the alleged fraud was uncovered nine months ago. The plaintiffs allege unauthorized transfers of their funds shortly after deposits
Two citizens, Chan Wing-yan and Herbert Lee Sun-him, have filed the first civil lawsuit against the cryptocurrency platform JPEX, seeking to recover approximately 240,000 units of tether, worth about HK$1.85 million. This marks the first civil lawsuit since the alleged fraud was uncovered nine months ago. The plaintiffs allege unauthorized transfers of their funds shortly after deposits.
The lawsuit names six initial defendants, including JP-EX Crypto Asset Platform Pty Ltd., Web3.0 Technical Support Ltd., three blockchain wallet holders, and Felix Chiu, general manager of Coingaroo. A seventh defendant includes anyone who aided in the asset transfer. As of April 18, police reported 2,636 victims involving about HK$1.6 billion, with 72 arrests and HK$228 million frozen.
