JPEX Appears To Be a $178 Million Fraud

Web3 is Going Great reports: After the Hong Kong-based JPEX exchange limited withdrawals amidst what appeared to be an impending collapse of the platform, things are now looking a lot more like fraud. Police have received more than 2,200 complaints pertaining to the exchange, involving $178 million in possible losses. Eleven people, including various crypto influencers who had promoted the exchange, were taken in for questioning. However, police have said those eleven people were not likely central to the fraud, and that the leaders of the JPEX project are on the run.

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