{"id":156617,"date":"2023-09-15T19:13:56","date_gmt":"2023-09-15T13:43:56","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=156617"},"modified":"2023-09-15T19:13:56","modified_gmt":"2023-09-15T13:43:56","slug":"jpex-hikes-withdrawal-fee-to-almost-1k-after-hong-kong-watchdog-warning-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/jpex-hikes-withdrawal-fee-to-almost-1k-after-hong-kong-watchdog-warning-crypto-news\/","title":{"rendered":"JPEX hikes withdrawal fee to almost $1k after Hong Kong watchdog warning – Crypto News"},"content":{"rendered":"
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Crypto exchange JPEX has reportedly increased its withdrawal fee to up to 999 Tether (USDT<\/a>) after receiving a warning from Hong Kong\u2019s Securities and Futures Commission (SFC). The staff of the exchange has also been reportedly missing from its Token 2049 booth in Singapore.\u00a0<\/p>\n

On Sept. 13, the SFC, Hong Kong\u2019s crypto watchdog,\u00a0issued<\/a> a warning against JPEX for actively promoting its services to the Hong Kong public despite not being licensed or applying for a license to operate in their jurisdiction. According to the SFC, JPEX has marketed itself on its website as a licensed and recognized platform despite being unregulated. <\/p>\n

According to the SFC, they’ve already notified the relevant opinion leaders and over-the-counter stores of their suspicions about the exchange and asked them to cease promoting the exchange’s services. <\/p>\n

Related: <\/em><\/strong>Hong Kong securities regulator issues in-principle approval to HKVAX<\/em><\/strong><\/a><\/p>\n

Following the SFC\u2019s warnings, reports of JPEX increasing its withdrawal fees to up to 999 USDT have started<\/a> to circulate online. The move is seemingly to discourage users from withdrawing their funds from the exchange. <\/p>\n

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Another scam exchange causing thousands of victims losing their savings. <\/p>\n

JPEX is a small crypto exchange in Hong Kong that\u2019s been offering nearly 30% APY on stablecoin staking. <\/p>\n

They also have a exchange token $JPEX<\/a> with $200 billion fully diluted value, advertising on Hong\u2026 pic.twitter.com\/vns0QnMOpn<\/a><\/p>\n

\u2014 Leon.sol (@leon_only1) September 14, 2023<\/a><\/p><\/blockquote>\n

Apart from this, community members who attended the Token 2049 event held in Singapore have reported that JPEX\u2019s booth has been abandoned after the warning from the Hong Kong regulator.\u00a0<\/p>\n

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The Platinum sponsor, JPEX, abandoned their booth at #Token2049<\/a> on the second day. <\/p>\n

On a side note, their logo looks quite similar to FTX. Is that a sign? pic.twitter.com\/KZw9o5vNgF<\/a><\/p>\n

\u2014 J O Y (@joyxspacelatte) September 14, 2023<\/a><\/p><\/blockquote>\n

Some members of the community criticized<\/a> the event for allowing the exchange to market itself as a sponsor of Token 2049, which is one of the biggest crypto events in the country.\u00a0<\/p>\n

Magazine: <\/em><\/strong>Are DAOs overhyped and unworkable? Lessons from the front lines<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto exchange JPEX has reportedly increased its withdrawal fee to up to 999 Tether (USDT) after receiving a warning from Hong Kong\u2019s Securities and Futures Commission (SFC). The staff of the exchange has also been reportedly missing from its Token 2049 booth in Singapore.\u00a0 On Sept. 13, the SFC, Hong Kong\u2019s crypto watchdog,\u00a0issued a warning […]<\/p>\n","protected":false},"author":2,"featured_media":156618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-156617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=156617"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156617\/revisions"}],"predecessor-version":[{"id":156620,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156617\/revisions\/156620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/156618"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=156617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=156617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=156617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}