– Hong Kong police have arrested 11 individuals linked to cryptocurrency exchange JPEX on charges of fraud and operating an unlicensed virtual assets exchange.
– The exchange is estimated to have affected over 2,000 users, with $166 million involved.
– JPEX executives were arrested during the Token2049 conference in Singapore, causing staff to abandon their booths and flee the event.
– The exchange has applied for voluntary deregistration with the Australia Securities & Investment Commission.
– JPEX has raised its withdrawal fees to prevent capital flight and announced that users’ deposits will be eligible for redemption starting in late 2025.
– Mt. Gox trustees have announced a further delay in payment deadlines for creditors, extending the bankruptcy process to potentially 10 years since the exchange’s hack in 2014.
– Mt. Gox was the largest Bitcoin exchange at the time and lost 850,000 BTC in the hack, but has since recovered around 200,000 BTC.
– Singaporean fintech firm DCS Fintech Holdings has received a $10 million investment from Foresight Ventures to develop crypto-fiat on-ramping solutions.
