About 167 million Hong Kong dollars have flowed out of the JPEX platform since last Wednesday. The police will investigate whether it is suspected of money laundering.

The virtual currency platform JPEX was involved in a conspiracy to commit fraud. As of 17:00 yesterday, the Hong Kong police had received reports from 2,265 people, and the amount involved increased to approximately HK$1.4 billion. Wu Jiezhuang, a member of the Hong Kong Web3.0 Association and a member of the Legislative Council, quoted on-chain analysis data from more than 50,000 hot wallets closely related to JPEX, which showed that since the Securities Regulatory Commission issued a statement last Wednesday warning that JPEX was unlicensed, as of September 22 A total of virtual currencies worth at least approximately HK$167 million have been transferred out of the JPEX platform, including BTC worth approximately HK$2.63 million, ETH worth approximately HK$20.8 million, USDT worth approximately HK$13.6 million, and ETH worth over HK$100 million. USDC, etc., most of them are transferred out on or after this Monday. Some virtual currency fraud analysis consultants believe that JPEX has significantly increased handling fees in the past week. It is believed that the transferred funds are not retail investors, the flow of funds is unusual, or it is the work of "bookmakers". It is understood that the police will investigate the flow of funds, cooperate with financial institutions to track the proceeds of crime, investigate whether it may be involved in money laundering or other crimes, and will also seek assistance from overseas law enforcement agencies. (Ming Pao)