Journalist Ye Yinhe
All of a sudden, the official Weibo accounts of three major cryptocurrency exchanges have been shut down.
On the afternoon of March 11, it was reported that the official Weibo accounts of Huobi, OKEx and Binance, China’s three major cryptocurrency exchanges, had been shut down. In response, the paper.cn first confirmed to Huobi, ouyi, Binan, Huobi and ouyi confirmed the fact that the account was banned, but said it was not clear the specific reason.
A reporter from thepaper.cn found that clicking on the covers of Huobi’s and ouyi’s Weibo accounts showed that the accounts were now unavailable due to complaints that they violated laws and regulations as well as the Weibo Community Convention.
According to the official microblog information, the Weibo community convention mainly deals with the following types of violations: political and harmful information, illegal information and untrue information, infringement of others’ personal rights and intellectual property rights, fraud, illegal marketing information, cheating and spam.
“It’s not a good sign that the Weibo accounts of the three major exchanges have been blocked,” a crypto industry insider told thepaper.cn. But he also said there was no basis to speculate on what might happen.
Another crypto industry insider said the policy against channelling money to exchanges based outside the country has not changed. But there will be a specific control of the operation, “such as before Sun Yuchen (wave founder) and He Yi (coin security founder) more noise, was blocked,” but the fire currency and Europe easy to do nothing, “this temper currency Europe easy also was deleted, that this supervision of the opening began to tighten some.”
“It looks like bitcoin has been on fire lately.” He said.
However, as of press time, the Weibo accounts of Huobi founder Du Jun, Oyi CEO Jayhao and Binan founder Zhao Changpeng have not been banned.
Huobi, OKEx (formerly OKEx) and Binance used to be the three major digital currency exchanges in China, but they moved overseas one after another after 2018. Since late October 2020, Bitcoin has been on a wild rise, recently trading sideways at more than $50,000. As of March 11, the stock price of Huobi Technology is HK $22.30, up 537.14% compared with October 30, 2020, while the stock price of Oke Cloud Chain is HK $0.68, up 353.33% compared with October 30, 2020.
At the same time, the rising price of bitcoin has attracted a large number of investors. On Jan. 29, Binance temporarily suspended its currency offerings. In response to this, Binance responded to a reporter from thepaper.cn that user assets are safe, mainly due to new users and the recent surge in traffic.
(This article is from thepaper.cn. For more original information, please download the “paper.cn” APP)