Cryptocurrency exchanges cannot enter or withdraw coins! The traders were scared and some said their money had been withdrawn.

At 11 a.m. on December 14, with sweeping improvements in the cryptocurrency market and mining industry, Huobi ended its investing activities for consumers in mainland China. However, during heavy work, the AOFEX exchange (hereinafter referred to as "a network") suddenly lost parts ...

Redeem a network drop extension

The last day of rest is approaching. A reporter for the Beijing Business Daily said that since October this year, several cryptocurrency exchanges, including Huobi, have announced plans to remove and notify users of newsletters and pop-ups. On December 14, Huobi will end the consumer deposit market in China, on December 15 at 11 a.m., stop currency trading for consumers in China, and on December 31, CNY OTC trading will be closed.

In these contexts, panic arises when exchange network A is unable to withdraw coins. According to user feedback, as of December 10, users will not be able to access the legal website and the application of website A. The official website replied that this was due to an inspection and an update. temporary.

Anet once again clarified the issue of server interference and user access on 13. Research and still cut. The company's servers were shut down at dawn on the 13th, and the official website and app were unable to display similar content, this time the reason for the connection is unknown, and the connections were made. 'non-business interference.

On December 14, a reporter from the Beijing Commercial Daily reported that the legitimate website of Website A can only see the ad page, and users in China can complete the registration by email, but no file changes. was not found.

“The biggest risk in the exchange process and the removal process is that users will not be able to complete the removal process properly. In particular, with total removal. In a large market in China, consumers can withdraw a lot of coins. Some small exchanges have. Small payment problems, "said Professor Pan Helin of Zhongnan University of Digital Economy and Law Research Institute.

Bitcoin fell nearly 20% in December

The Beijing Business Journal also discussed with the two organizations the current escalation of Huobi's exit and resumption of Network A withdrawals. Among them, Huobi replied that now the company is completing and decides to eliminate the idea. without leaving the room. , and all demolition and removal plans are working well. Contact details are not available on Network A.

In fact, since December the entire cryptocurrency market has panicked. After hitting new highs in November, Bitcoin and Ethereum broke the 30% mark in December, with Bitcoin and Ethereum hitting their lowest levels of $ 41,000 and $ 3,300 in Ethereum.

Bitcoin trends over the last 14 days

According to data from global currency value site CoinGecko, at 7:55 p.m. on December 14, Bitcoin was trading at $ 47,336, down 18.2% from December, and Ethereum at $ 3,812, down 14. , 2% compared to December.

Popular altcoins such as Dogecoin and Shiba Inu have fallen further since December, with Shiba Inu dropping 24.5% in December and Dogecoin dropping 11% in December.

Some in financial markets pointed out by the Beijing Business Daily that news of the swap deal has already been announced, and prices are dropping due to the low last-minute average consumer churn rate.

Liu Feng said that after the total downturn in the cryptocurrency market, the outflow of capital from the currency market is greater, and consumers are not satisfied with the future development of the domestic market. .

In addition to the abolition and abolition of cryptocurrency exchanges, the Zhejiang Provincial Justice Ministry, the Cathedral Cyberspace Affairs Committee and other departments recently established a team of joint inspection to monitor 36 IP addresses in 20 state owners in 7 regions. Violation of procedures and management to engage in the "mining" and commercialization of virtual resources using public resources.

Liu Feng, director of the Center for Blockchain Technology and Applications Research at Shanghai International Business and Economics University, believes future cryptocurrency and mining projects will continue to face unrest. in mainland China. Entrepreneurs should always be attentive to the current situation and the common policies of the house, focused on the future and not involved.

Pan Helin added that there is a need to crack down on cryptocurrencies in Korea and carefully monitor measures to prevent a recurrence in the country. It is difficult for the average trader to take negative risk, and protection is the only way to prevent it.