[New Developments in the JPEX Fraud Case on Hong Kong Virtual Asset Platform: 16 People Prosecuted] Golden Finance reports that new progress has been made in the JPEX fraud case involving over HK$1.6 billion in 2023, related to the unlicensed virtual asset trading platform JPEX. On November 5, 2025, the Hong Kong Police Force announced that 16 individuals, including six core members of JPEX, will be formally prosecuted. Additionally, three key individuals are currently fleeing overseas, and the Hong Kong police have issued Red Notices through Interpol. Chief Superintendent Wong Chun-yu of the Commercial Crime Bureau of the Hong Kong Police Force disclosed at a press briefing that, to date, 80 people have been arrested in connection with the JPEX case. Among them, 14 are core members of the JPEX criminal group, 16 are heads of over-the-counter (OTC) trading platforms and influencers promoting them, and 50 are puppet account holders involved in the case. The police have frozen assets worth HK$228 million, including cash, luxury cars, bank accounts, gold bars, and virtual assets.