Hong Kong Influencer Arrested in Connection with JPEX Liquidity Crisis
Summary:
Hong Kong social media influencer Joseph Lam, known as 'jolamchok' on Instagram, has reportedly been arrested in connection with the liquidity crisis at crypto exchange JPEX. Lam is accused of promoting JPEX's services and presenting investment schemes to cryptocurrency investors. The Securities and Futures Commission of Hong Kong has also blamed JPEX for actively promoting its platform through online celebrities. Lam's office was raided, and evidence, including cash, was seized. JPEX has blamed regulators and third-party market makers for the liquidity crisis.
A social media influencer based in Hong Kong has reportedly been arrested in connection with the liquidity crisis at crypto exchange JPEX. Joseph Lam, known as 'jolamchok' on Instagram, was allegedly arrested by Hong Kong police, who raided his office and seized evidence, including cash. The Securities and Futures Commission of Hong Kong has blamed JPEX for promoting its services through online celebrities, including Lam. It is also rumored that Lam presented investment schemes to a cryptocurrency chat group, convincing one person to invest $12,800. Lam has not yet responded to the accusations. JPEX, meanwhile, has blamed regulators and third-party market makers for the liquidity crisis.
Published At
9/18/2023 8:34:00 AM
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