| Name: | JP-EX Crypto Asset Platform Pty Ltd JPEX Technical Support Co. Pty Ltd |
| Type: | Suspicious virtual asset trading platforms |
| Address(es): | Suite 704, 6-8 Help Street Chatswood 2067 Australia |
| Website: | https://jp-ex.io/ |
| Remarks: | JPEX purports to be a virtual asset trading platform and there are a number of suspicious features about its practices. It falsely claimed to have obtained licenses from certain overseas regulators to operate VATP which is in fact not true, and publicised on its website and local advertorials that it had entered into a business cooperation with and received investment from a Hong Kong listed company when, in fact, the cooperation has already been terminated and no investments were actually made by the listed company. It offered very high returns for some of its products and there are complaints from investors who were unable to withdraw virtual assets from their accounts maintained with JPEX, or had found their account balances having been reduced and altered. |
| Add date: | 8 Jul 2022 |
| Note: | |
Do not respond to suspicious virtual asset trading platform (VATP) offers if its operator is not licensed. To check whether a VATP is licensed by the SFC, please visit our List of licensed virtual asset trading platforms.
Some VATPs that appear to operate in Hong Kong or target Hong Kong investors may not have a licence to provide virtual asset service or carry out regulated activities in the city. They may lure investors with too-good-to-be-true investment offers, falsely claim to be or soon to be licensed in Hong Kong and/or overseas, or promote themselves aggressively through social media, instant messages, so-called “key opinion leaders” (KOLs) or any other forms of advertisements.
If you deal with a VATP which is not licensed by the SFC, please note that it is unregulated and not supervised by the SFC. You may lose your entire investment held on the VATP if it ceases operation, collapses, is hacked or otherwise suffers from any misappropriation of assets. Seeking recourse against those VATPs without a nexus with Hong Kong can be very difficult and legal remedies may not be available.