Hong Kong police stated that the investigation into the suspected fraud case involving the virtual asset trading platform JPEX is still ongoing. Members of the Commercial Crime Investigation Bureau are following up on the investigation and contacting relevant persons to provide information to assist the police in their investigation.

Legislative Council Member Dr. Johnny Ng, who is assisting the victims, said that most of the victims he has contacted so far are young people and professionals, including college students. They believed in the promotion of network KOLs, participated in so-called investment training outside the market to find exchange shops OTC, and some people bought virtual currencies with cash in OTC without receipts, which is surprising.

Dr. Johnny Ng further stated that the OTC market is "operating and trading", but is not regulated by laws and regulations, and needs to be repaired. At the same time, the promotion methods of the Securities and Futures Commission are outdated, and the education effect on young people is poor, describing that it cannot cope with the emergence of "Web3.0" with "Web1.0" methods.

He believes that the Securities and Futures Commission's claim that it was too late to warn JPEX until mid-month due to the need for investigation has failed to reduce investor losses. He also questioned the Securities and Futures Commission's claim that the publication of the list of virtual asset platform applications was inappropriate and that the Securities and Futures Commission has a responsibility to clearly publish information to avoid investor misunderstandings.