JPEX Exchange Faces Liquidity Crisis, Delists Earn and Promises Changes After Regulatory Warning

JPEX exchange blames third-party market makers for freezing funds and causing liquidity issues.
JPEX has delisted Earn trading interface due to liquidity shortage.
JPEX promises to recover liquidity and adjust withdrawal fees.
JPEX states it will make changes to platform structure after input from users.
Warning from Hong Kong's SFC alleges JPEX operates without license.

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Relevant topic timeline:

9/18/2023

Unlicensed Hong Kong Crypto Exchange JPEX Suspends Trading After Probe and Arrest

Hong Kong cryptocurrency exchange JPEX has suspended trading following an investigation by the Hong Kong Securities and Futures Commission, resulting in the arrest of one individual, and the exchange is considering restructuring as a Decentralized Autonomous Organization (DAO) due to operational difficulties.

9/24/2023

Thousands Fall Victim to Unlicensed HK Crypto Platform JPEX's High-Return Scam

Hong Kong cryptocurrency platform JPEX, which promised high returns and used celebrities and influencers for promotion, has been accused of orchestrating the city's largest financial fraud involving HK$1.43 billion ($184 million).