JPEX is a controversial cryptocurrency exchange platform headquartered in Dubai. The company offers a simple and user-friendly web platform for trading a range of cryptocurrencies such as BTC, USDT, and ETH.
JP EX claims to be registered with four authorities – the Dubai Virtual Assets Regulatory Authority (VARA), the Australian Securities and Investment Commission (ASIC), the US Financial Crimes Enforcement Network (FinCEN), and the Canadian FINTRAC.
This doesn’t imply that the exchange is licensed to provide services as FinCEN says that “the inclusion of a business on the MSB Registrant Search Web page is not a recommendation, certification of legitimacy, or endorsement of the business by any government agency,” and the FINTRAC registration also “does not indicate that FINTRAC endorses or licenses the business.”
Consequently, the exchange decided to delist operations related to its Earn product. Users also reported a 999 USDT withdrawal fee, and JP EX promised to adjust it. Unfortunately, the traders have so far claimed “losses amounting to over 1 billion Hong Kong dollars ($128 million).”
If you lost money to the JP EX crypto platform, we can help you recover it.
“All you have to do is to just deposit the money and you will receive the returns daily,” which is pretty much what most pyramid-type schemes promise you.
According to the company’s website, JP EX has been active since 2020. For three years now, the unregulated exchange has been mainly targeting traders residing in the following countries:
JP EX is primarily focused on “infiltrating” top financial hubs in the world. However, JP EX has no license to operate under European, Asian, or North American jurisdictions, which is why this platform is risky.
JP EX’s website shows that the company is active on multiple social media platforms such as Instagram and Facebook and messaging apps such as WhatsApp, Telegram, and Discord. We assume the exchange is finding clients via these media.
We can help you get your money back from JP EX.
JP EX offers a selection of popular cryptocurrencies that users can trade against the US Tether. The list of JP EX tokens available on the platform includes the following:
Since this is exclusively a crypto exchange, you must neglect the fact that digital assets are extremely volatile. JP EX offers extremely high leverage (up to 1:300), which is unwise.
JP EX listed three available payment methods for deposits and withdrawals:
JPEX charges a withdrawal fee of 0.0005 BTC (~ 13.30 USD) for Bitcoin withdrawals. This fee is applied when users withdraw Bitcoin from their JPEX accounts to external wallets or addresses.
Withdrawal fees for other cryptocurrencies are variable and dependent on the specific digital asset being withdrawn.
To sum up, JP EX is a controversial crypto exchange with no license. This website has primarily been targeting traders from the US, UK, Germany, Japan, and Canada.
We don’t recommend you trade on this exchange due to it being blacklisted by the Hong Kong SFC. Recovering funds that were deposited can be a nightmare but it is possible! You need professional assistance from experts who understand how a chargeback works.
If you need help getting your funds out, book a free consultation with us and tell us more about your case. We will analyze it together and come up with a solution for recovering your hard-earned funds!
Let us know if JP EX scammed you.
No, JP EX is not legit. The exchange is unlicensed to provide services, plus blacklisted by the SFC.
JP EX offers cryptocurrency trading, i.e. all the popular crypto tokens that can be traded against US Tether.
No. JP EX was recently involved in a huge fraud scandal and eventually got blacklisted by the SFC.
If JP EX isn’t allowing you to withdraw your funds, we can help you get them back.
The post JP EX Review: Let’s First Share Some Facts About JP EX appeared first on Global Fraud Protection.
