The cryptocurrency exchange JPEX is facing further developments in its ongoing saga. Taiwan prosecutors have reportedly identified new alleged suspects in the case. The Taipei District Prosecutors Office (TDPO) has requested the custody of Chang Tung-ying, the chief partner at JPEX’s Taiwan office, over allegations of fraud. The authorities have also summoned three other individuals, including JPEX lecturer Shih Yu-sheng, as suspects for violating banking and money laundering laws. While some defendants have been released, including JPEX salesperson Liu Chien-fu and Niu Keng-sheng, others, such as Taiwanese celebrity Nine Chen, have been summoned by prosecutors. JPEX, once a successful crypto exchange, abruptly halted some services in September 2023, citing a liquidity crisis and alleging unfair treatment from institutions in Hong Kong. The implosion of JPEX has sparked investigations and concerns among financial regulators in Hong Kong, Taiwan, and other countries, leading to the implementation of new measures to protect investors. Prosecutors have arrested at least 11 alleged suspects in the JPEX case, while the alleged masterminds remain at large.

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Information	Details
Geography	Asia
Countries	🇭🇰
Sentiment	negative
Relevance Score	1
People	Niu Keng-sheng, Chang Tung-ying, Shih Yu-sheng, Nine Chen, Liu Chien-fu
Companies	Bitmain, JPEX, Taipei District Prosecutors Office (TDPO), Money Laundering Control Act, TVBS News, Banking Act
Currencies	None
Securities	None