Troubled Hong Kong-based cryptocurrency exchange JPEX has applied for deregistration in Australia.
According to a document seen by Cointelegraph on September 20, JP-EX crypto asset platform PTY LTD (JPEX) director Chen Jieyi has submitted a deregistration application to the Australian Securities and Investments Commission (ASIC). JPEX claimed in the document that all members of the company agreed to the deregistration, the company is no longer conducting business, its assets do not exceed 1,000 Australian dollars, and it has no liabilities.
On September 13, during the Token2049 conference in Singapore, the JPEX team allegedly abandoned its company booth as Hong Kong police arrested six JPEX employees on charges of operating an unlicensed cryptocurrency exchange. The Hong Kong Securities and Futures Commission (SFC) said the same day that it had received more than 1,000 complaints about the JPEX platform, claiming losses of more than HK$1 billion (US$128 million).
As the issue became public, JPEX, which previously offered yields of up to 30% per year on stablecoin staking, reportedly raised its withdrawal fees to 999 Tether (USDT) to prevent transfers from the exchange.
The website is currently inaccessible at the time of publication. Shortly before the delisting, JPEX released a compensation plan for users, claiming that users would be compensated on a "one-to-one" basis by September 21, and their assets would be exchanged for shares in JPEX DAO. The exchange also wrote that due to the CSRC's investigation, the third-party custodian "maliciously froze" the platform's assets and caused an "unprecedented disaster."
Magazine: 'AI is killing the industry': EasyTranslate boss on adapting to change
Author: Deepchain DCNews
Compiled by: Sister Shen
Twitter: DeepChain
Twitter：https://twitter.com/DeepChainUS
