Hong Kong cryptocurrency exchange JPEX has suspended trading following an inspection by the Hong Kong Securities and Futures Commission (SFC), which led to the arrest of one person associated with the exchange.

Hong Kong’s JPEX was operating in the territory without a license, the SFC claimed, and police had received numerous complaints about the exchange.

Amid these liquidity problems, JPEX said it will delist all trades on its Earn Trading interface from Monday, while ensuring that orders are always received and adjusting withdrawal fees. The exchange also said it is considering restructuring into a decentralized autonomous organization (DAO).

JPEX’s Taipei office was recently vacated and authorities have reportedly questioned Taiwanese influencers hired by the exchange.

JPEX says on its website that it is licensed by the Australian securities authorities and registered with the U.S. Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB).

Visitors who visited the JPEX booth during the recent Token2049 conference in Singapore found it abandoned after the first day.

JPEX’s thinly traded exchange token, JPC, has fallen 21% in the past 24 hours.