The first criminal case in the HK currency circle: Which JPEX criminal?
JPEX’s wild gameplay
(1) Recruitment with high returns
JPEX promises to recruit partners with high commissions. The "partner" terms are clear: if 1,000 people are invited to join as JPEX customers, and the average assets invited within 30 days reach 10 million U, the partners will receive a monthly dynamic reward of 6,000 U. In April 2023, JPEX will attract new ones The dynamic income has been directly increased to 1,000,000U, clarifying the dynamic income system for obtaining high returns based on the number of new users.
(2) 45-second contract battle
The second is a new gameplay created by JPEX. According to the official website: there will be a green upward-moving and red downward-moving fluctuation line on the user's screen. This is the market price trend line. The user enters the bet amount after 45 seconds. Press "PUMP" or "DUMP" to predict the rise or fall of the line after 45S. As long as you guess the trend, you can make a profit. Otherwise, you will lose your betting funds. You can use virtual currencies such as Bitcoin or Ethereum to place bets.
(3) The platform currency JPC only rises but never falls. It is huge but has extremely poor liquidity.
Through a third-party data detection platform, we can find that JPEX's platform currency is very interesting. Under the current severe global economic downturn and the generally sluggish crypto market, it has risen sharply against the trend and has only risen but not fallen. From 0.001U listed on August 8, 2022 to 0.04U in June 2023, it has directly increased 40 times, with the total market value reaching a peak of 1.88 trillion yuan.
Although the total market value of JPEX seems to be 1.88 trillion, what is strange is that the 24-hour trading volume of the currency is actually less than 10 million. Combined with the fact that JPEX itself has almost no information disclosure, the possibility of data fraud is extremely high.
If JPEX is in mainland China, what kind of crime is it suspected of?
(1) Crime of organizing and leading pyramid schemes
JPEX’s high-return recruitment activities in the name of “partners” are suspected of organizing and leading pyramid schemes.
(2) Crime of opening a casino
The so-called "45-second contract war" is a very clear online gambling behavior. JPEX, as the handicap bookmaker, is suspected of opening a casino under Chinese law.
(3) Crime of fund-raising fraud
If JPEX falsifies the data of its own virtual currency after issuing the currency, it is likely to be suspected of committing a fund-raising fraud.
