Interpol launches international manhunt for JPEX cryptocurrency exchange fraudsters
Interpol has initiated an international manhunt for individuals involved in a fraudulent scheme related to the cryptocurrency exchange JPEX. The search is on for Wong Ching Kit, also known as Coin Young Master, and his accomplice Mok Tsun Ting. Wong is accused of fraud and theft, while Mok is accused of money laundering.
Wong Ching Kit gained notoriety after a scandalous incident in 2018 when he threw banknotes worth around $25,000 from the roof of a building in one of Hong Kong’s poor districts. A video of this act quickly went viral, bringing Wong popularity. His activities caught the attention of JPEX founders, and soon he became one of the key promoters of this cryptocurrency exchange. However, after JPEX was exposed as a fraudulent platform, Wong was ordered to remove all promotional materials from social media.
An investigation conducted by the Hong Kong Securities and Futures Commission revealed that JPEX operated without a license and was involved in a pyramid scheme. Due to the subsequent collapse of the platform, traders suffered losses amounting to $206 million. As a result of the operation to wind down the exchange, 73 people were arrested, including Mok Tsun Ting. He was released on bail but soon disappeared along with Wong.
Interpol is now searching for these individuals to hold them accountable for their roles in the fraud and financial crimes related to JPEX.
