JPEX exchange has halted trading due to the liquidity crisis caused by the
Local police have received at least 83 complaints involving $4.3 million
Since Hong Kong’s regulator issued a warning last week about JPEX operating without approval, the exchange has fallen into a state of disarray. After the arrest of an influencer associated with JPEX, the exchange has trading on its Earn Trading interface affective 18 September. Users can continue any existing trades until they finish that they have entered into. However, they cannot make new trading transactions.At the time, JPEX claimed that it is taking the action due to a liquidity shortage caused by third-party market makers. The firm accused these market makers of acting maliciously, post the regulatory warning.
JPEX also disclosed its plan to restructure itself as a decentralized autonomous organization . This way, it aims to seek and implement user input through voting.
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