JPYC Corporation suspends Ethereum network JPYC issuance appointment and is investigating arbitrage anomalies

JPYC Corporation announced the suspension of JPYC issuance appointments on the Ethereum network and is currently investigating the reasons. Multiple users have reported that they are unable to complete the issuance and KYC process, and have questioned whether other on chain issuances such as Polygon are restricted. A screenshot displayed by a user shows that the price of 1 million JPYC in the secondary market has abnormally risen to about 21300 US dollars, and a single exchange can earn about 3.31 million Japanese yen for arbitrage. JPYC Corporation stated that it will announce the recovery situation after investigating the details.