Two investors have filed a civil suit against JPEX, naming multiple defendants, in the first of several expected suits.
Two people have filed a civil suit against cryptocurrency trading company JPEX and other defendants. JPEX is accused of fraud involving 1.6 billion Hong Kong dollars . This is the first civil suit in the case, and more are expected to follow.$236,500 in Hong Kong district court, according to the South China Morning Post. On June 4, the pair filed three alternative claims, meaning the court could choose between them.
In addition to JPEX, the suit names as defendants an affiliated company — Web3.0 Technical Support, “any persons who carried out or assisted in the scheme,” three individuals identified as “wallet holder” and Felix Chiu King-yin, general manager of JPEX-associated cryptocurrency exchange Coingaroo.) and $130,000 in cash at the current exchange rate. One of the transfers was made in the Lam’s name. The plaintiffs were later unable to withdraw those funds.
“The findings from the civil proceedings may potentially bolster the parallel criminal investigation against the suspects, underscoring the importance of this multifaceted legal strategy for the victims.”after the Hong Kong Security and Futures Commission identified it as an unlicensed virtual asset trading platform. Eleven people wereThe police had received 2,265 complaints against JPEX by April.
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