JPEX Response: Raised Withdrawal Limits, Unresolved Asset Transfer Concerns

Parvani449

"Cryptocurrency exchange JPEX faced withdrawal difficulties on the early morning of September 14th, with withdrawal fees reaching 999 USDT, concerns about asset transfers, and suspicions of registering ""shell companies.""
The official response did not clarify the concerns until recently, stating: ""In view of the statement issued by the Securities and Futures Commission of the Hong Kong Special Administrative Region, the platform needs to make adjustments in terms of business and policies. JPEX adjusted the USDT withdrawal fee on September 14, 2023, at 00:00 (GMT+8). Regarding the above matters, the platform has established a special task force, consisting of professional legal professionals, former members of the Securities and Futures Commission, and elite members from the financial industry, to discuss the future development direction and await further guidance from the Securities and Futures Commission. The platform will gradually adjust the withdrawal fee and periodically increase the withdrawal limit based on the Securities and Futures Commission's response. If users have urgent withdrawal needs, they can fill out the form below to apply for priority withdrawal sorting, and the platform will arrange it as soon as possible to address the needs of users with special requirements.
Overall, it did not specify when the issues regarding the excessively high withdrawal fees and the 1000 USDT limit would be resolved, and concerns about suspected asset transfers and registering ""shell companies"" have not been clearly addressed. We will continue to monitor the situation.
Note: As the Hong Kong Securities and Futures Commission and the police have not released further information about JPEX, the platform's claims cannot be verified at this time."