The JPEX fraud case in Hong Kong has been adjourned until March 16, 2026, after prosecutors were granted additional time to organise extensive case files from a two-year investigation. The next hearing will focus on a group of social media influencers accused of promoting JPEX and serving as the public face of its over-the-counter crypto trading operations.

The defendants face charges including conspiracy to defraud, fraud, unlawfully inducing others to invest in virtual assets, and dealing with proceeds of crime. Seven of the eight defendants were granted bail under existing conditions, while one remains in custody.

JPEX collapsed in September 2023 after Hong Kong’s Securities and Futures Commission warned that the platform was unlicensed and had made misleading claims. Users subsequently reported frozen withdrawals, with authorities estimating that more than 2,700 victims suffered combined losses exceeding $206 million.

So far, more than 80 people have been arrested in connection with the case, facing charges ranging from fraud and money laundering to obstruction of justice. Three alleged masterminds remain at large under Interpol red notices. The scandal has had wider repercussions for Hong Kong’s crypto sector, undermining public confidence at a time when the city is seeking to position itself as a regional hub for Web3 and digital assets.