Hong Kong JPEX cryptocurrency scandal: suspect arrested on arrival at airport, taking total to 28

In Hong Kong, a scandal involving the JPEX cryptocurrency trading platform has led to the arrest of another suspect, bringing the total number of arrests to 28. The suspect, a 28-year-old man named Choi, was apprehended upon his arrival at Hong Kong International Airport on Sunday. It is believed that Choi is the owner of an over-the-counter (OTC) virtual assets money changer. Although the suspect's identity remains undisclosed, an individual announced on Instagram that he was returning to Hong Kong to 'explain the truth to the public' and assist the police with their investigation. The JPEX cryptocurrency scandal is a significant case of financial fraud, involving HK$1. 56 billion and 2,538 victims, according to the police. A man named Henry Choi, who goes by the Instagram handle 'hongcoin_btc' and the Chinese name 'Tung Gei', claimed to have lost over 95% of his assets due to the scandal. He denied any involvement in the JPEX incident and expressed regret for trusting the fraudulent platform. The police have arrested 28 individuals in connection with the scandal, releasing all but one pending further investigation. Among those previously detained were social media influencers who had promoted the trading platform and owners and staff of other OTC shops.