No new Earn orders amid HK investigation: JPEX

JPEX said third-party vendors are limiting their liquidity.

Virtual asset trading platform, JPEX, said it will delist all transactions on its earn trading interface on 18 September 2023 at midnight.

During this time, JPEX noted, its users cannot place any new Earn orders and Existing ongoing Earn orders will continue until the product’s end date to receive a reward.

The recent development came after Hong Kong ordered an investigation on JPEX as the government warned the public that the platform had no operating licence.

JPEX, in a statement, explained that its partnered third-party market makers have maliciously frozen funds.

“They demanded more information from the platform for negotiation, restricting our liquidity and significantly increasing our daily operating costs, leading to operational difficulties,” said JPEX.

To protect users’ interests, JPEX said it is negotiating with these third-party market makers to resolve the liquidity shortage as soon as possible.

“To avoid negatively impacting the negotiation outcomes, the details will be announced after the negotiations are concluded,” it added.

The platform also promises to recover liquidity from third-party market makers as soon as possible and gradually adjust the withdrawal fees back to normal levels.

It also said it would publicly collect users’ suggestions discuss proposals with its dedicated team and select reasonable plans for user referendum.

Follow the link for more news on

Securities and Futures Commission

Also Read

AI-startup Fourth Paradigm plans to list on HKEX

HK ranks 4th amongst markets with the least complex jurisdictions for doing business

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit