A crypto-boosting show judged by crypto industry hustlers like Anthony "The Mooch" Scaramucci and shady operator Mario Nawfal has just published trailers for its scheduled January 2024 debut. Maybe they'd sunk too much money into producing Killer Whales to back out, or maybe its creators actually think that a Shark Tank-style crypto reality TV series is what it will take to return crypto to its former glory. "JPEX hikes withdrawal fee to almost $1K after Hong Kong watchdog warning", Cointelegraph."JPEX cryptocurrency exchange named in 83 complaints to Hong Kong police over virtual assets worth HK$34 million", South China Morning Post.They also suspended their platform's gaming feature. They announced that, as a result, they would be pausing their Earn product. Later, they accused their "partnered third-party market makers" of "maliciously fr funds".
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JPEX released a statement that the SFC was "exerting undue pressure on our platform", and asserted that the watchdog should "bear full responsibility for undermining the prospects" of the crypto industry in the region. Hong Kong police have disclosed they are investigating the firm. Then, JPEX hiked their withdrawal fees to as high as $999, and limited withdrawals to $1,000.Īccording to the South China Morning Post, customers have filed at least 83 complaints about the exchange, pertaining to crypto assets priced at $4.3 million. The following day, attendees of the Token 2049 crypto event observed that JPEX had abandoned the booth they'd rented. The JPEX cryptocurrency exchange was the subject of a September 13 consumer warning by the Securities and Futures Commission (SFC), who said they were promoting services to Hong Kong residents without proper licensure. JPEX is a Hong Kong crypto exchange that was advertising more than 20% APY on various staking products. "We believe that the platform will not collapse," wrote JPEX, amidst apparent collapse.
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