Hong Kong Police Reportedly Visiting Other Crypto Company Offices

by BSC News

September 18, 2023


Hot on the heels of allegations and an arrest made around JPEX exchange, reports are emerging of Hong Kong police visiting other cryptocurrency organizations in the jurisdiction.

In the wake of the now high-profile JPEX saga, which saw the Hong Kong SFC issue a warning against the exchange, only for JPEX to respond with further suspicious activity, and which has now allegedly resulted in arrest, Hong Kong police are reportedly visiting other cryptocurrency offices in the jurisdiction. 

In particular, Koingaroo - a lesser known DeFi protocol - with the below image circulating on social media, and X (Twitter) in particular.

Source: X (Twitter)

The highest profile account to have shared the story and image appears to be @Boxmining, which boasts nearly 200,000 followers on X. However, the image has been circulated by other accounts. 

A watermark contained in the image hints at the story originating from Epoch Times, though official sources are yet to confirm.

The precise reason for Hong Kong authorities alleged visit to Koingaroo’s head office is also yet to be revealed. However, in the wake of recent events, speculation suggests it may be part of a wider crackdown on crypto companies within the geography.


Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article