Lung Hui News Today

The implosion of JPEX is likely to make the public more cautious about investing in cryptocurrencies, but sentiment may improve in the long run, experts say.

The JPEX scandal, which is suspected to have ensnared at least 2,305 victims involving about HK$1.43 billion (US$182 million) of investments, has dealt a heavy blow to public trust in cryptocurrencies, casting a shadow over Hong Kong's ambitions to become a global virtual asset hub. The implosion of JPEX, which could turn out to be the largest financial fraud in the city's history, has rung alarm bells among local retail investors, creating near-term challenges for virtual asset compan...