The troubled Hong Kong crypto exchange JPEX has applied for deregistration in Australia.According to a file read by Cointelegraph on September 20, JP-EX PTY LTD (JPEX) crypto asset platform manager Jiei Chen has filed an application to refuse registration with the Australian Securities and Investments Commission. In the statement, JPEX claims that all members of the company have agreed to register, the company is no longer in business, its assets do not exceed 1000 Australian dollars and it has no obligations.On September 13, during the Token2049 conference in Singapore, the JPEX team reportedly left the company booth after the Hong Kong police arrested six JPEX employees on fraud charges for managing an unlicensed crypto exchange. The Hong Kong Securities and Futures Commission (SFC) said on the same day that it had received more than 1,000 complaints related to the JPEX platform, reporting losses worth more than HK$1 billion (US$128 million).When the issue became public, JPEX reportedly raised the withdrawal fee to $999 (USDT) to prevent transfers from the exchange. Previously, JPEX offered a 30% annual return on stablecoin strike. At the time of publication, the website is currently unavailable. Shortly before its removal, JPEX published a user compensation plan claiming that users will receive one-to-one compensation, and their assets will be exchanged by September for a share in the decentralized autonomous JPEX entity. 21. The exchange also wrote that third-party custodians had maliciously frozen the platform's assets as a result of the SFC investigation, leading to an unprecedented catastrophe.Magazine: Artificial Intelligence has killed the industry: Easytranslate's boss on Adapting to Change