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The Hounax rugpull comes right after more than $120 million was stolen from the unlicensed JPEX exchange in September.
About 2,000 investors lost money on the JPEX platform which was advertised on Hong Kong's metro.
Hong Kong influencer Joseph Lam has disassociated himself with the crypto platform JPEX, denying any allegation in the unfolding JPEX investigation. Lam, who…
JPEX: Hong Kong investigates influencer-backed crypto exchange
JPEX has dominated headlines recently after it has been revealed by the authorities to be unlicensed and led to the arrests of multiple Hong Kong influencers including Joseph Lam and Chan Yee over a suspected fraud related to the company.