Odaily Planet Daily News: JPEX, an unlicensed virtual asset platform in Hong Kong, is suspected of violating regulations in its promotion and operation in Hong Kong. Two of the victims in the case appointed lawyers to represent them and filed a lawsuit in the District Court yesterday against JPEX Group and seven defendants, seeking 240,000 Tether or HK$1.85 million. This is the first civil claim against JPEX. Zhu Qiaohua, a consultant lawyer at Haochen Law Firm, who represented the plaintiffs, said that if the lawsuit is successful, it can be used as an example to help more victims recover their losses. Zhu Qiaohua said that the criminal investigation is still ongoing, but there is a 6-year deadline for filing a civil lawsuit. If you wait until the criminal investigation is over before filing a claim, there may not be enough time to start the civil procedure; if there is any development during the civil lawsuit, it will also have an impact on the criminal prosecution. Tasman Tam, a barrister representing the two plaintiffs, explained that they will try to recover losses for the plaintiffs based on several causes of action, one of which is based on the fiduciary responsibility of the JPEX Group (the defendants include JPEX's registered companies in Australia and Hong Kong) in the incident. He explained that all the virtual currencies involved were held in trust by JPEX or related persons, and the actual owner of the virtual assets was the plaintiff, and the defendant had to return the relevant virtual assets. Data showed that as of April 18 this year, the police had received reports from 2,636 victims in the JPEX case, involving about HK$1.6 billion, 72 people were arrested, and assets of about HK$228 million were frozen. (Ming Pao)