TechFlow reported on January 30 that the Pingjiang County People's Court in Hunan Province released multiple criminal verdicts involving the BKEX exchange, classifying its derivatives trading as gambling. According to the judgments, BKEX was established in Chengdu in 2018 and launched perpetual contract trading in 2021. By the time of the case, the platform had accumulated approximately 54.798 million USDT in net profit (equivalent to about 300 million RMB), with 270,000 contract trading users, including over 60,000 active users.
Since founder Ji Jiaming remains at large, the current rulings primarily target platform employees and agents. Zheng Lei, a wallet engineer, was sentenced to two years and one month in prison, suspended for two years and one month, and fined 150,000 RMB. Wang Mou, responsible for KYC verification and financial settlements, received a sentence of one year and eleven months in prison and a fine of 52,000 RMB. Agent Dong Moumou was sentenced to one year and six months in prison, suspended for one year and six months, and fined 35,000 RMB. All illegal gains have been confiscated and turned over to the state treasury.
