Registered company of JPEX seeks deregistration in Australia, claiming assets do not exceed AUD$1,000

A company registered in Australia by JPEX, the troubled cryptocurrency exchange, filed a voluntary deregistration application to the securities watchdog on Tuesday (Sep 19) – a day after six persons were arrested in Hong Kong amid an investigation on the suspected fraud involving the platform.

According to the filing, Jieyi Chen - the director representing the company named "JP-EX Crypto Asset Platform PTY LTD" - has sought approval from the Australian Securities and Investment Commission to remove the company's register.

Chen declared that all company members agree to the deregistration, the company is not carrying on business, its assets are worth less than AUD$1,000 (approximately HK$5,017), and the company has no outstanding liabilities nor is it a party to any legal proceedings.

It is unknown whether the Australian securities watchdog has yet approved the voluntary deregistration application.

JPEX said earlier that it is registered with financial regulators in Australia and Canada.

JP-EX Crypto Asset Platform PTY LTD was mentioned in the Hong Kong Securities and Futures Commission's alert list.

Lawmaker Edmund Wong Chun-sek, who represents the accountancy sector, said the action from the company might be aimed at removing shareholder or director information from public platforms in a bid to reduce the chances of the company being claimed to have absconded with the funds.

Wong also advised investors to seek assistance from professionals in Australia to file claims against the company.

Read more: Number of alleged scam victims exceeds 2,000 as police arrest three more in JPEX probe