- Two people filed a lawsuit looking for the return of $700,000 from JPEX.
- Know-how authorized specialist Joshua Chu Kiu-wah is representing the plaintiffs.
- Felix Chiu King-yin, basic supervisor of the Coingaroo trade, was additionally appointed.
Two people linked to the JPEX scandal have filed a lawsuit in Hong Kong courts to get well HK$5.5 million (roughly $703,300).
The lawsuit names plaintiffs Herbert Lee Sung-him and Chan Wing-yan towards JPEX Crypto Asset Platform, a agency accused of economic fraud totaling HK$1.6 billion, and its affiliate, Internet 3.0 Technical Assist.
The plaintiffs additionally search to carry accountable “all individuals who performed or assisted on this scheme,” together with three holders of pockets addresses related to the JPEX platform.
Felix Chiu King-yin, CEO of Hong Kong cryptocurrency trade Coingaroo, which is claimed to have operational ties to JPEX, can also be named as a defendant.
Chan claims she paid Chiu HK$1,850,000 (equal to $237,179), a part of which he transformed to 195,499 USDT (Tether) and deposited right into a JPEX pockets. She additionally informed police that she made a number of deposits totaling USDT 247,498 into two JPEX wallets in July and August final yr, solely to search out the property transferred inside 5 minutes of every deposit.
Prosecutors say the saved property have been moved to dozens of unknown wallets earlier than they checked their accounts on September 14 final yr. They’re additionally looking for to get well one other 226,012 USDT, which they are saying have been transformed to different cryptocurrencies with out permission.
The plaintiffs are asking the court docket to hint the misplaced funds and subject an injunction to freeze the cryptocurrency held on varied platforms. The plaintiff is represented by know-how authorized specialist Joshua Chu Kiu-wah.
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