The "Greenstone Digital Asset Platform" (JPEX) is suspected of illegal promotion and operation in Hong Kong. In the first civil claim case, two victims filed a lawsuit with the District Court to recover 240,000 TEDA or 1.85 million Hong Kong dollars from seven defendants including JPEX Group. One of the defendants, JPEX's registered company in Hong Kong, was absent from the hearing last month. Judge Zhou Zhaowen handed down a judgment yesterday, claiming that the company, as an operator, held assets and constituted an express trust, but breached its obligations. In particular, the first plaintiff's case was obviously strong, and the two applied to order the company to compensate. According to the statement of claim, as the first defendant of JPEX Australia registered company, and the second defendant operated JPEX virtual asset services and electronic platforms, the plaintiff personally or in his name opened an account on the platform to deposit virtual currency, and the plaintiff requested the court to rule that the second defendant violated good faith and/or was required to restructure and repay debts. The judge said that in many common law jurisdictions, including Hong Kong, courts accept cryptocurrencies as "property" and can form trusts. The judge agreed that the first two defendants operated a cryptocurrency trading platform that recorded the movement of money between accounts, the trust's income and the terms of the agreement between the parties. Therefore, the second defendant, as a trustee, breached his duty and transferred assets without authorization. The judge held that the court must grant relief for justice and ordered the second defendant to pay costs of $120,000.