JPEX: Assets swapped for $JPC, caught in market manipulation!

Yesterday, on October 4th, JPEX faced another wave of crises. Shortly after the DAO vote was criticized for passing in secrecy, users discovered that their stablecoins were not only covertly replaced with $JPC without notification but also frozen, rendering them unable to trade. Previously, "Crypto City" reported that JPEX, which still cannot facilitate normal withdrawals, claimed it would introduce a "DAO shareholder dividend scheme," telling users that if they agreed to implement the DAO dividend scheme, their platform assets would be automatically converted 1:1 into company shares. In addition to receiving dividends, they could retrieve their entire principal after two years, sparking a collective backlash from affected users. However, what's bewildering is that despite the extravagant DAO proposal triggering a collective backlash, it ultimately passed with a high approval rate of 68%. Many users disclosed that during the voting process, if they pressed "disagree," the system repeatedly prompted them to click "agree," raising suspicions that JPEX was playing tricks. Experienced individuals pointed out that conducting voting through fake accounts on a platform-hosted vote was too simple. Moreover, after transitioning to a DAO, JPEX essentially retained control over what proposals to make and whether they would pass. In essence, when the DAO proposal emerged, users' assets appeared destined to be unrecoverable. Shortly after the DAO proposal passed, on October 4th, some users disclosed that JPEX had already started converting their assets. According to unidentified users, they eagerly attempted to withdraw their assets after noticing a reduced withdrawal fee for Tether ($USDT) to 3 $USDT. To their astonishment, they found their assets had been covertly swapped for JPEX's own token, $JPC, without prior notification. Apart from the abrupt conversion of user assets without warning, what's even more astonishing is that according to the DAO proposal, existing $JPC tokens should be in a frozen state, making them untradeable. However, $JPC's price experienced exaggerated fluctuations despite not being traded on any recognized exchanges, resulting in a significant decline in value. Currently, it remains unclear whether the forced asset conversion experienced by users is related to previous issues or the content of the DAO proposal. However, based on the current situation, the hopes of affected users recovering their money from JPEX appear bleak.