21st September 2023 – (Hong Kong) Three more individuals have been arrested in connection with the JPEX cryptocurrency platform fraud case. One of the arrested individuals is Mok Tsun-ting, who was previously involved in a mining machine fraud case with Wong Ching-kit, also known as the “Yong Master of Bitcoins,” in 2019. At that time, the police identified Mok as an assistant to Wong Ching-kit. Mok has been involved in multiple cases and is listed as a co-defendant alongside Wong Ching-kit.
The other two individuals arrested are related to off-exchange currency exchange businesses. One of them is dR.X Wong Ho-pong, a BeatBox singer who previously operated a restaurant and cryptocurrency exchange shop. The third individual is Chu Ka-fai, a well-known figure in the cryptocurrency community.
On 28th February, 2019, Wong Ching-kit and his assistant, Mok Tsun-ting, were arrested for their involvement in a mining machine fraud case. Mok Tsun-ting was arrested again this Wednesday (20th) as part of the ongoing JPEX fraud investigation. The 25-year-old man, who claimed to be a professional driver, is associated with the Australian registered company “JP-EX Crypto Asset Platform Pty Ltd.”
In February 2019, Mok Tsun-ting was arrested together with Wong Ching-kit for their alleged involvement in a conspiracy to defraud case. The investigation revealed that they deceived victims into purchasing mining machines through false statements, involving approximately HK$3 million.
Since 2020, there have been at least 13 civil lawsuits involving Wong Ching-kit or his company, “Coin’s Group Limited (Company No. 2593689)” as defendants. These cases primarily revolve around contractual disputes and debt recovery.
One of the civil lawsuits filed in 2022 listed Mok Tsun-ting as a co-defendant alongside Wong Ching-kit and Tang Lap-shun. Tang Lap-shun, a 26-year-old employee of “Web3.0 Technical Support Limited,” was also recently arrested in connection with the JPEX case. He claimed to be a waiter by profession.
BeatBox artist Wong Ho-pong, who was arrested on the same day, is the director and shareholder of APESTAURANT GROUP LIMITED (Company No. 3149193). He operated a restaurant called “Bored Garden” on Wellington Street in Central, which also offered cryptocurrency exchange services over the counter (OTC). Wong Ho-pong was known to organise Web3.0 gatherings and lectures.
Another 31-year-old man named Chu Ka-fai, a well-known YouTuber in the cryptocurrency community. Chu resides in Casa Marina, Tai Po.
Chu Ka-fai, also known as “K.T Club,” established his company in 2020 and expanded it over the years. The company’s headquarters relocated from Kee Shing Centre in Tsim Sha Tsui to China Hong Kong City. Chu Ka-fai opened two additional branches at Nan Fung Centre in Tsuen Wan and Apple Mall in Tin Hau. He identifies himself as a “red-hot figure in the cryptocurrency community” and frequently shares virtual currency information on online platforms and lectures. His company primarily offers off-exchange cryptocurrency trading services (OTC) and aims to promote cryptocurrency culture and introduce new investment methods to a wider audience.
During a visit to the “K.T Club” branch in Tsuen Wan today (21st), the premises were found to be vacant. The office located in China Hong Kong City was also deserted, with items piled up at the entrance. According to other tenants, the office has been closed for some time.
In 2019, there were criticisms on Facebook accusing Chu Ka-fai of being involved in fraudulent activities related to cryptocurrency. In 2020, Chu Ka-fai was arrested for fraudulently obtaining property by means of deception. He was accused of promoting a cryptocurrency called “Magic Coin” through seminars, and several individuals claimed to have been deceived after investing over HK$4 million. One victim alone, a female teacher, was defrauded of HK$600,000.
The JPEX cryptocurrency trading platform case has garnered wide attention. Since the enforcement operation began on the 18th, the police have arrested Joseph Lam Chok, Chan Yee and three additional individuals on Wednesday (20th). The arrested individuals, aged between 25 and 32, are suspected of conspiracy to commit fraud. They are currently under detention for further investigation. To date, a total of 11 individuals have been arrested in connection with the case, and the police investigation is still ongoing. The number of reported victims has reached 2,086 as of 5pm on the 20th, involving an amount of approximately HK$1.3 billion.
Sources revealed today that Hong Kong singer Julian Cheung also assisted in police investigation.