Crypto exchange JPEX has pointed the finger at its third-party market makers for “maliciously” freezing funds, which led to the exchange being forced to hike withdrawal fees to battle a liquidity crisis.
Dubai-based cryptocurrency exchange JPEX has slammed regulators and “third-party market makers” for a liquidity crisis that has seen the platform hike withdrawal fees and suspend certain operations.
In a Sept. 17 blog post, JPEX said “unfair treatment” from certain institutions in Hong Kong, along with negative news, caused its third-party market makers to “maliciously” freeze funds.
Local police in Hong Kong have now received at least 83 complaints concerning the exchange, according to a Sept. 18 report from the South China Morning Post.