Blockchain analytics firm Bitrace has warned of potential RugPull activities at Hong Kong exchange JPEX, which is facing charges of involvement in a money laundering scheme. Over 190 million TRC20-USDT tokens have passed through the platform in the last 20 months, raising concerns about potential involvement in a broader financial crime network.

The Hong Kong Securities and Futures Commission has urged caution when engaging with JPEX, particularly regarding deposit and withdrawal activities. Hong Kong regulators have also announced tighter regulatory rules for digital assets after police arrested six people in allegations of fraud against JPEX.