The Judicial Document Network link Wu Says has learned that multiple criminal judgments regarding the BKEX exchange issued by the People's Court of Pingjiang County
Multiple criminal judgments regarding the BKEX exchange have recently been published on the Judicial Document Network. These judgments mainly involve employees and agents of BKEX. The core viewpoint is to define BKEX's contract trading as gambling, and to classify the agents and employees of the BKEX exchange as accomplices in the crime of operating a casino.
According to the judgment, in the first half of 2018, Ji Jiaming (currently at large) established Chengdu Dechen Bike Tianxia Technology Co., Ltd. in Chengdu, Sichuan Province. In June of the same year, the company founded the BKEX exchange ("BKEX" trading platform), primarily engaged in the exchange and spot trading of various virtual currencies. From July 2019 to January 2022, Ji Jiaming repeatedly changed the registered name of the company where the BKEX exchange was located until it was deregistered.
The judgment indicates that in the first half of 2021, Ji Jiaming prepared to launch perpetual contract trading on the BKEX platform, allowing users to bet using the virtual currency USDT, amplifying their principal through high leverage, betting on the price fluctuations of virtual currencies such as BTC and ETH, thereby using the internet to engage in gambling. Due to a lack of relevant market operation experience, Ji Jiaming was introduced to Lei Le (who has been prosecuted) to reach a cooperation agreement. The two parties agreed that Lei Le would form a team in Shenzhen, Guangdong Province (hereinafter referred to as the "Shenzhen Operation Team") specifically responsible for the operation and promotion of the contract trading module on the BKEX platform, while Ji Jiaming and the Chengdu team would provide technical and financial support, responsible for software development and maintenance, and provide funds for Lei Le and the Shenzhen Operation Team to pay salaries and rent office space. Both parties agreed that 58% of the net profit from the BKEX platform's contract trading module would belong to Ji Jiaming and the Chengdu team, while the remaining 42% would belong to Lei Le and the Shenzhen Operation Team.
In July 2021, the contract trading function developed by Lei Le and Ji Jiaming went live on the BKEX platform (the Bike exchange). Users could recharge using the virtual currency USDT by downloading the BKEX APP or logging into the website www.bkex.com, and could choose contracts for different virtual currencies such as BTC and ETH, place orders, click "Buy Long" or "Sell Short," and select leverage from 1 to 100 times for ordinary perpetual contracts, or from 125 to 1000 times for crazy contracts. Once the position was confirmed, the trading content could not be changed, and perpetual contracts had no expiration date. The "BKEX" platform was equipped with functions such as market reference data, forced liquidation, matching transactions, platform gambling, and agent commission returns. The business team formed by Lei Le developed multi-level agents and users, directly or through others, developing over 10,000 subordinate agents. By the time of the incident, the "BKEX" platform had over 270,000 contract trading users, including over 60,000 active users. The platform accumulated a net profit of 54,797,677 USDT (equivalent to over 300 million RMB) through collecting fees during user withdrawals and betting, as well as profits from forced liquidations and gambling.
Due to the founder being at large, the defendants were mainly agents and employees. The Judicial Document Network lists a total of 8 documents, including 2 employees and 6 agents.
Defendant Zheng Lei joined Chengdu Dechen Bike Tianxia Technology Co., Ltd. in early 2019 through an introduction. From July 2021 to May 2023, Zheng Lei, knowing that the BKEX exchange was an illegal platform for contract trading using virtual currencies, served as a wallet engineer and head of the wallet department in the Chengdu team of the "BKEX" platform. He was mainly responsible for the technical development and maintenance of the main chain for fund circulation, including recharge and withdrawal for all platform users, and provided settlement services for the platform together with the audit and asset departments, earning a monthly salary of about 20,000 to 30,000 RMB.
The prosecution submitted relevant evidence to this court to substantiate the above allegations, believing that defendant Zheng Lei violated social management order by providing technical support for a gambling website to gain illegal profits, and the circumstances were serious. His actions violated Article 303, Paragraph 2 of the Criminal Law of the People's Republic of China. The facts of the crime are clear, and the evidence is solid and sufficient, warranting criminal responsibility for operating a casino. This case constitutes a joint crime, with defendant Zheng Lei playing a subordinate role under the organization and command of Ji Jiaming,
