Crypto influencer Henry Choi arrested over JPEX scandal

While the suspects identity was initially undisclosed, an individual posted on Instagram the same day, stating their intention to return to the city and “explain the truth to the public” while assisting the police with their investigation.

A social media influencer, potentially linked to an alleged fraud case involving the unlicensed

cryptocurrency

platform JPEX, was apprehended at the Hong Kong International Airport this Sunday. According to an insider, the individual in question is a 28-year-old named Choi. Upon his arrival at the airport, he was taken into custody and is reported to be the proprietor of an over-the-counter (OTC) virtual assets money-changing service.

Identified as Henry Choi, known by the Instagram handle “hongcoin_btc” and also by the Chinese name “Tung Gei,” he revealed that he had suffered a loss of “more than 95 percent” of his assets. In the social media post, Choi addressed rumors linking him to the alleged misconduct, denying any involvement or receipt of funds related to the JPEX incident. He asserted complete ignorance of the matter.

He expressed deep regret for having put trust in the fraudulent platform, acknowledging that he now finds himself with no financial resources. He conveyed his heartfelt apologies, emphasizing his naivety and lack of clear judgment, which led to disappointment for everyone involved.

Law enforcement agencies have received 2,538 reports from victims, involving an estimated amount of HK$1.56 billion. To date, 28 individuals have been arrested in connection with the case. One person is currently in detention for further investigation. At the same time, the remaining 28 individuals have been released on bail pending further inquiries and are required to report to authorities between late October and late December.

In Hong Kong, some trading operations on JPEX have been halted since the arrests, and it appears that the citys authorities have taken steps to block web access to the platform.