The South China Morning Post stated that four further suspects had been detained by police in Hong Kong and Macau as part of an investigation into the JPEX cryptocurrency exchange.
A total of 18 people have been detained as a result of the arrest of those who the police believe to be “relatively close to the core” of the scandal, and more fugitives are still being sought, according to the report. It also stated that one suspect was allegedly discovered destroying documents with paper shredders and bleach in an apartment bathtub.
After Hong Kong’s Securities and Future Commission accused the JPEX platform of operating without a licence a few weeks ago, funds on the platform were frozen. The regulator has since stated that it will publish information on licence applicants in response to the case.
Leader of Hong Kong John Lee has stated that the incident demonstrates the necessity for stringent crypto licencing regulations, but the exchange has claimed that its “unfair” treatment may jeopardise the region’s plans to establish itself as a hub for the industry.