JPEX Scandal: Victims Battle to Reclaim $700,000 in Hong Kong Courtroom

• Two people have filed a lawsuit searching for restoration of $700K from JPEX.
• Know-how authorized specialist Joshua Chu Kiu-wah represents the plaintiff.
• Felix Chiu King-yin, normal supervisor at alternate Coingaroo, has additionally been named.

Two people related to the JPEX scandal have filed a lawsuit in Hong Kong courts searching for to recuperate HK$5.5 million (roughly $703,300).

The lawsuit names plaintiffs Herbert Lee Sung-him and Chan Wing-yan in opposition to JPEX Crypto Asset Platform, a agency accused of economic fraud totaling HK$1.6 billion, and its related entity, Internet 3.0 Technical Assist.

The plaintiffs are additionally searching for to carry accountable “any individuals who carried out or assisted within the scheme,” together with three pockets handle holders linked to the JPEX platform.

Felix Chiu King-yin, normal supervisor at Hong Kong cryptocurrency alternate Coingaroo, which reportedly has operational ties to JPEX, can also be named as a defendant.

Chan alleges that she paid Chiu HK$1,850,000 (equal to $237,179), a part of which he transformed into 195,499 USDT (Tether) and deposited right into a JPEX pockets. She additionally instructed police that she made a number of deposits totaling 247,498 USDT to 2 JPEX wallets in July and August of final yr, solely to search out the property transferred inside 5 minutes of every deposit.

The plaintiffs declare that the deposited property have been moved to dozens of unknown wallets earlier than they checked their accounts on September 14th of final yr. They’re additionally searching for to recuperate one other 226,012 USDT, which they are saying was transformed to different cryptocurrencies with out authorization.

The plaintiffs are asking the courtroom to hint the misplaced funds and concern an injunction to freeze the cryptocurrency held on numerous platforms. Know-how authorized specialist Joshua Chu Kiu-wah is representing the plaintiffs.