PANews reported on April 12 that according to Sing Tao Daily, 18 months have passed since the virtual asset trading platform JPEX was suspected of fraud. The Hong Kong police have successfully frozen 228 million yuan. Hong Kong Election Committee member Wu Jiezhuang is concerned about whether the police can help the victims recover the defrauded money. In response, Hong Kong Police Commissioner Chow Yiu-ming said that the relevant case is still under investigation and the police will seek legal advice from the Department of Justice on the different people involved in the case. The frozen funds will not be distributed until the case is concluded.
Zhou Yiming also said that the Hong Kong police have established an electronic bank document system to analyze the flow of funds in bank accounts. In order to target fraudsters who use virtual assets to collect and launder fraudulent funds, they have currently developed a one-stop virtual asset analysis tool with local universities.
