Bitrace has disclosed alarming details regarding JPEX, a Hong Kong-based exchange that is already under investigation for suspected rug pull.
Troubles for JPEX may not be over yet. The Hong Kong-based crypto platform – JPEX – has come under scrutiny as a potential hub for money laundering, according to Bitrace.JPEX Money Laundering Accusationsalleged that a recently flagged address associated with JPEX has facilitated the movement of over 190 million TRC20-USDT tokens over the last 20 months.
Local regulators have intensified their actions against the platform, which ceased its operations this week. Notably, the Hong Kong police haveAmong those nabbed is a lawyer turned crypto influencer, Joseph Lam Chok. The authorities reportedly confiscated evidence, including a laptop and a sum of cash. Another influencer, Chan Wing-yee, was also detained under suspicion of involvement in a conspiracy to commit fraud.
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