Chinese Crypto Platform Feixiaohao Operators Under Investigation for 6 Months

IconCryptoNewsTerminal Staff29 Aug, 2024

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Chinese Crypto Platform Feixiaohao Operators Under Investigation for 6 Months

Chinese police have been investigating the operators of the popular crypto information platform Feixiaohao for more than half a year, according to prominent crypto media outlet WuBlockchain. X reported via Twitter that "the core members of the Chinese crypto information site Feixiaohao (Non-small) were arrested by the police half a year ago and are still under investigation." The reasons for their arrests have not been disclosed. Feixiaohao has been described as the Chinese version of CoinGecko, a crypto market data platform. The investigation into Feixiaohao's operators is a sign of the Chinese government's ongoing crackdown on the crypto industry. In recent months, China has banned crypto mining and trading, and has taken steps to restrict the use of cryptocurrencies. It is unclear what the outcome of the investigation into Feixiaohao will be. However, the investigation is a reminder of the risks associated with operating a crypto business in China. ---

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