South China Morning Post: The JPEX scandal could become the largest financial fraud case in Hong Kong's history, but investor confidence will recover with the bull market

ChainCatcher news, according to the South China Morning Post, JPEX is suspected of being involved in investments exceeding HKD 1.3 billion (USD 166 million), with over 2,000 victims involved. Industry insiders and analysts point out that JPEX's collapse could become the largest financial fraud case in Hong Kong's history, sounding the alarm for local retail investors and posing short-term challenges for virtual asset companies that hope for government support in developing the industry.

Daiwa Bank's Lai stated that retail investors' interest and confidence in cryptocurrencies will gradually recover over time, especially when a bull market forms; before that, the Hong Kong government needs to educate the public about its new regulatory framework and investor protection measures.