JPEX announces transition to DAO, Hong Kong police: 20 arrested, involving over HK$1.5 billion
JPEX seems to have unilaterally passed a "DAO shareholder dividend plan" and claimed to transition to a DAO, without disclosing any data behind the vote in the announcement. In addition, the Securities and Futures Commission (SFC) and the Hong Kong Police Force (HKPF) have announced the establishment of a dedicated task force for virtual assets.
Image Source: South China Morning Post
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JPEX Claims Transition to DAO
JPEX announced on October 4th that the referendum for the "DAO Shareholder Dividend Program" was approved with a 68% support rate. Users will receive platform profits gradually, and JPEX has started operating in a DAO format.
JPEX also emphasized that they are still in negotiations with third-party market makers and hope to release funds as soon as possible.
JPEX Users: USDT Converted to JPC
South China Morning Post cited a JPEX user stating that all their USDT has been converted to JPC. Other users have also experienced their assets being forcibly exchanged, with no clear exchange rate to JPC.
JPEX Involved Amount Exceeds 6 Billion NTD
According to Ming Pao, as of October 4th, the JPEX case has led to the arrest of 20 individuals, with 2,523 reported victims, involving approximately 1.55 billion HKD, about 6.392 billion NTD.
The man wearing a helmet in the first image is artist Zheng Junxi, and another man surnamed Liu was also arrested with a white Porsche seized. The police believe this is criminal proceeds, but the report did not disclose the relationship between these two individuals and JPEX.
Virtual Assets Task Force
According to an announcement, the Securities and Futures Commission (SFC) of Hong Kong and the Hong Kong Police Force (HKPF) have announced the establishment of a dedicated task force to enhance the scrutiny of illegal activities related to Virtual Asset Trading Platforms (VATP).
This task force was established after a meeting between the two parties' senior officials on September 28th and includes members such as:
Representatives from intermediary institutions
SFC Enforcement Division
Financial Investigation Division
Commercial Crime Bureau of the Hong Kong Police Force
Cyber Security and Technology Crime Bureau
The purpose of forming this task force is to:
Enhance scrutiny: Share information on suspicious activities and violations of VATP
Establish a risk assessment mechanism for suspicious VATPs
Strengthen coordination and cooperation in related investigative work