Chan Wing-yan and Herbert Lee Sun-him, two individuals, have taken the initiative to file the inaugural civil lawsuit against JPEX, a cryptocurrency platform, in an effort to recover approximately 240,000 units of tether. These units are valued at around HK$1.85 million. This lawsuit represents the first civil case to emerge since the alleged fraudulent activities came to light nine months ago. The plaintiffs have made claims that unauthorized transfers of their funds occurred shortly after their deposits were made. The lawsuit specifically names six initial defendants, which include JP-EX Crypto Asset Platform Pty Ltd., Web3.0 Technical Support Ltd., three holders of blockchain wallets, and Felix Chiu, the general manager of Coingaroo. Furthermore, the lawsuit encompasses a seventh defendant category, which encompasses anyone who facilitated the transfer of assets. The police have reported a staggering 2,636 victims, involving approximately HK$1.6 billion, as of April 18. These reports have led to 72 arrests and HK$228 million being frozen.
