ChainCatcher news, recently, the People's Court of Pingjiang County, Hunan Province announced multiple criminal judgments involving the BKEX exchange, clearly defining the platform's contract trading as gambling behavior, and holding relevant employees and agents criminally responsible for the crime of operating a casino.The judgment shows that BKEX was founded by Ji Jiaming in 2018 in Chengdu, mainly providing virtual currency exchange and spot trading services. In 2021, the platform launched perpetual contract trading features, allowing users to bet on the price fluctuations of virtual currencies like BTC and ETH using USDT, suspected of using the internet to gather crowds for gambling. By the time of the incident, BKEX had accumulated a net profit of approximately 54.798 million USDT (equivalent to about 300 million RMB), with 270,000 contract trading users, of which over 60,000 were active users.Due to the founder Ji Jiaming being on the run, this case mainly targets platform employees and agents. The judgment involves 2 employees and 6 agents, among them, an employee named Zheng Lei, who served as a wallet engineer responsible for technical support for fund circulation, was sentenced to 2 years and 1 month in prison, with a 2-year and 1-month probation, and fined 150,000 yuan; another employee, Wang, was responsible for KYC verification and fund settlement, sentenced to 1 year and 11 months in prison, and fined 52,000 yuan. Agent Dong was sentenced to 1 year and 6 months in prison, with a 1-year and 6-month probation, and fined 35,000 yuan for developing downline participants for gambling profits. The related illegal gains have been confiscated and turned over to the national treasury.The court determined that the defendants were all accomplices, and some individuals received lighter penalties due to pleading guilty and actively returning stolen goods.Earlier in 2023, news from BKEX exchange: due to suspected "money laundering" and cooperating with the police for evidence collection, it will suspend withdrawals.

ChainCatcher news, according to Wu citing Weibo user Shi Di's report, he was taken away by the Public Security Bureau of Pingjiang County, Yueyang City, Hunan Province for investigation into the BKEX (Bikex) 12.15 online gambling case on April 9. Specifically, it concerns the commission rebate issues from July 2021 to July 2022. He was detained in the Pingjiang detention center for over 20 days, and on April 26, he had returned 1.576 million yuan in stolen property and was released on bail. He stated that high leverage in perpetual contracts is currently defined as online gambling, and commission rebate agents, including individuals developing downlines, may be suspected of being accomplices in a casino.

ChainCatcher news, the Monetary Authority of Singapore (MAS) investor warning list has recently added Zico Global Pro Station and cryptocurrency exchange BKEX.It is reported that Zico Global Pro Station operates a cryptocurrency trading application called Zico, which is not affiliated with Zico Asset Management Pte Ltd.

ChainCatcher news, the encryption security agency Bitrace stated that after analyzing the on-chain records of the cryptocurrency trading platform BKEX, it has flagged 5 Trc20-USDT hot wallet addresses, 522 user risk addresses' fund flows, and 6,591 user unknown risk addresses' fund flows.In the past year, the five main BKEX hot wallet addresses have interacted with over 7,113 user addresses in terms of fund transactions. Among them, 522 are risk addresses, which have transferred funds to BKEX hot wallet addresses in 4,001 transactions, with a total risk fund amount reaching 4.99 million USDT. Additionally, these addresses have indirectly associated with 568 million risk USDT through user addresses, and the risk funds mainly come from online gambling platforms and illegal third-party payment platforms (including 3.61 million USDT from online gambling platforms and gamblers, and 930,000 USDT from illegal third-party payment platforms).Therefore, there is a possibility that BKEX user funds are involved in money laundering, and the platform may cooperate with law enforcement agencies in the investigation, which is consistent with its official announcement. Previous report mentioned that BKEX announced that user funds on the platform are involved in money laundering, and BKEX is currently cooperating with the police to collect evidence. As a result, it will suspend withdrawals to assist in the work. (Source link)

ChainCatcher message, BKEX announced that the funds of platform users are involved in 'money laundering'. Currently, BKEX is cooperating with the police to collect evidence, and will suspend withdrawals to assist in this work. The BKEX team will fully cooperate with the regulatory investigation and do its utmost to restore normal operations of the exchange. (Source link)