Hong Kong’s Crypto Push Gets Blunt Warning as Probe Erupts
- HK police arrested eight people over conspiracy to defraud
- JPEX platform has expressed disappointment over HK actions
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A crypto controversy has erupted in Hong Kong amid a probe of a trading platform that has ensnared social-media influencers and unleashed criticisms against the key regulator.
Hong Kong authorities accused crypto platform JPEX of cheating investors by luring them with high returns via advertisements and social media platforms, officials said during a press conference in the city on Tuesday. The police has seized millions in assets including property and jewelry, they said.