- The media reported a significant increase in the number of crimes in Hong Kong in three years.
- The total loss from such precedents in 2023 is estimated at $611 million.
- The largest of them is the case of the JPEX exchange.
From 2021 to 2023, the number of crimes in Hong Kong, in which crypto-assets are involved, increased from 1397 to 3415. This is reported by local media, citing Secretary for Financial Services and Treasury Hui Qing-yu.
The total damage from these cases is estimated at 4.39 billion yuan (about $611 million). The largest precedent of 2023 the Secretary called the case of the JPEX exchange.
Recall, in September 2023, the authorities blocked access to this platform after numerous complaints. At the end of the month, the regulator said it intended to tighten oversight of the industry, citing the case.
As part of the investigation into the exchange, 70 people were detained. However, none of them have ever been charged with any charges, the press noted.
Notably, in June 2023, Hong Kong officially introduced a licensing regime for virtual asset service providers. After that, a slew of exchanges applied for licenses. Among them, including HTX (formerly Huobi).
