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Hong Kong Social Media Influencers Face Charges for Promoting JPEX, Which Caused $206M in Losses

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Hong Kong social media influencers are facing charges for promoting JPEX, a collapsed exchange linked to over $206 million in losses. A hearing on December 2, 2025, addressed eight defendants, including a former TV actor, charged with fraud and money laundering. Seven were released on bail. JPEX shut down in September 2023 after regulators flagged its unlicensed operations. Over 80 arrests have been made, with three suspects still at large. Traders are advised to monitor altcoins to watch amid rising fear and greed index volatility.
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