Taiwan detains key JPEX executives amidst fraud investigation
The Taipei District Prosecutors Office has detained two individuals connected to the crypto exchange JPEX in relation to an investigation into potential fraud . According to local reports, Chang Tung-Ying, the lead partner at the Taiwan branch of the embattled crypto exchange, and Shi Yu, an academic linked to JPEX, have been arrested on accusations of infringing upon banking and anti-money laundering legislation. Prosecutors have instructed the local justice investigation bureau to conduct investigation s at nine sites, leading to the questioning of four individuals. A suspect with the last name Liu was granted bail for NT$50,000 (equivalent to $1,550), while another, named Niu, was released following their interrogation. The probe into JPEX’s activities began after reports emerged in June of the exchange promoting cryptocurrency products and seeking investments. You might also like: JPEX to become DAO, to freeze assets for 2 years The investigation also draws in...