The offices of Chinese initial coin offering startup GXChain have reportedly been closed by the local police.
"GXChain was a very hot ICO back in the days with ATH market cap over $600M and considered to be among the very few legit ICOs.".
In a subsequent tweet, Wan also suggests that the field in which the startup operates - selling processed personal credit data - may be the reason behind the closure.
"I have no idea why the police took action against GXchain instead of 10,000 other Chinese scams, as GXchain has a real business behind. The trigger might be their data business - they sell processed personal credit data, which is a highly sensitive area now in China."
As Cointelegraph reported in August, Chinese police are reportedly investigating non-custodial token trading platform EtherDelta in connection with an apparent exit scam.
Chinese Police Reportedly Close Office of ICO Startup
gepubliceerd op Sep 11, 2019
by Cointele | gepubliceerd op Coinage
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