Defiant JPEX faces platform blockade in Hong Kong and implements emergency measures for user assistance, Joseph Lam Chok to hold press conference at 3pm today

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Joseph Lam Chok

22nd September 2023 – (Hong Kong) The defiant JPEX, a controversial virtual asset trading platform, issued a statement yesterday night regarding the inability of its users in Hong Kong to retrieve SMS verification codes. The platform explained that due to the complete blockade by telecommunications service providers in the Hong Kong region, users registered with Hong Kong phone numbers are unable to receive phone messages containing the necessary codes.

In response to the issue, JPEX assured its users that they are actively working to resolve the problem. For those who have registered with Hong Kong phone numbers and are unable to receive verification codes, the platform provides an emergency method for cryptocurrency withdrawal. Users are instructed to input the last six digits of their registered phone number as the verification code. For example, if the registered phone number is 1234 5678, the user should input 345678 as the verification code.

To ensure the security of users’ assets, JPEX earnestly requested all users who have registered with Hong Kong phone numbers to immediately bind their accounts to an email address. This additional step will provide an alternative means of account recovery and enhance the overall security measures.

Despite facing tremendous challenges and continuous obstruction from the Hong Kong Securities and Futures Commission, JPEX reaffirmed its commitment to keeping its promise and standing firm. The platform expressed hope that users can recognise their persistence and effort in the face of severe and irreversible policy risks.

In recent days, the Securities and Futures Commission (SFC) has accused the virtual asset trading platform “JPEX” of operating without a licence. As a result, Joseph Lam Chok, along with ten other individuals, has been arrested on suspicion of conspiracy to commit fraud. On Tuesday evening (19th), Joseph Lam Chok and eight other individuals were granted bail and are now awaiting further investigation. They are required to report to the law enforcement authorities in mid-October.

Following his release on bail, Joseph Lam Chok took to his social media late last night (21st) to make his first post. He announced an urgent press conference scheduled to take place at 3pm today and instructed reporters to contact him for the location and arrangements.