Commissioner of Hong Kong Police: How to allocate the HK$228 million in frozen JPEX funds will only be determined upon completion of the case.

According to Sing Tao Headline, it has been 18 months since the virtual asset trading platform JPEX was suspected of fraud. Hong Kong police have successfully frozen HK$228 million. Hong Kong Election Committee member Wu Jiezhuang is concerned about whether the police have a way to help the victims recover the defrauded money.

In response, Commissioner of Police Siu Chak-yee replied that the relevant case is still under investigation. The police will seek legal advice from the Department of Justice on various persons involved in the case. How to allocate the frozen funds will only be determined upon completion of the case.

Siu Chak-yee also stated that the Hong Kong police have established an electronic banking document system to analyze the flow of funds in bank accounts. To combat fraudsters using virtual assets to collect and launder money, they are currently co-developing a one-stop virtual asset analysis tool with local universities.