5.9 billion bitcoin leak, large unified trading platform, exceeding 1.2 billion yuan per day

5.9 billion bitcoin leak, large unified trading platform, exceeding 1.2 billion yuan per day

On the afternoon of September 26, Huobi Global announced that, in accordance with applicable regulations, Huobi Global has postponed the registration of new users in Mainland China to September 24, 2021. Existing customers who have been confirmed in Mainland China will receive their order and will be refunded. to be completed by 12:00 p.m. on December 31, 2021 instead of deposit. Consumer goods concepts. Specific withdrawal and refund policies are as follows. The notifications consist of notifications, emails, visit messages, etc., and users receive notifications by SMS, etc.

Huobi has been declared one of the world's largest cryptocurrency trading platforms. According to WhaleAlert data, as of 4:00 p.m. today, 22,000 bitcoins (roughly 5.88 billion yuan) were traded by Huobi during the transition period.

Some analysts have pointed out that the move could be Huobi's transition from cold wallets to hot wallets in response to the wave of consumer exclusion in China.

Close multiple virtual currency platforms

In addition to Huobi, another cryptocurrency industry, Binance, has apparently not registered heavy users in China. A reporter from the China Securities Journal found that when new users create an account, they cannot complete the registration process if they choose a China Real Estate phone number, which is extended to 86 regional regions.

After three major financial institutions and the State Treasury announced a crackdown on the virtual currency market, Binance announced a ban on cell phone registration in China and resumed on August 16.

Affected by the impact of the cryptocurrency giant's trading platform services, the price of Bitcoin climbed at 4:00 p.m. on September 26 and fell nearly $ 2,000 an hour. The cryptocurrency market is in a state of panic and there are clear signs of investment. According to UAlCoin data, a total of more than 1.2 billion yuan of virtual currency contracts were liquidated daily, with a maximum liquidation of 18.47 million yuan.

Image source: OKEX

Photo source: UALcoin

There are also virtual advantages which are directly excluded from the market.

On September 25, the business platform BHEX announced the "Declaration on the eternal functioning of the service platform and the Declaration of code of conduct" in response to international regulations and comply with the working rules of laws and regulations local crypto-currencies. . The BHEX platform will be launched immediately and the services will be phased out, with the exception of services removed after October 9, and will be closed permanently on October 16, 2021. The platform, users will not be able to use all functions commercial website. and APP.

On September 24, the BiONE trading platform announced that it will be permanently closed for review on September 29, 2021 at midnight. Users must transfer funds to another exchange or wallet by September 29, 2021. The platform is not. You are responsible for the inability to deduct the resulting benefits.

Cryptocurrency tools are closing their business impact.

Not only trading platforms, but also virtual value virtualization tools have started to shut down operations in mainland China.

On September 25, the DeBank official site page of the DeFi news site said it has closed some features and services to users in mainland China, and only kept the nature of the capital to identify the equivalent of a chain.

DeBank said it will only provide key features and services to users in the region who are involved in agencies involved in governance, referral policies and actions according to the rules.

TokenPocket, a multi-wallet, said it has benefited from the regulation, shut down some features and services for users in mainland China, and cut off third parties who can do business and do not comply with applicable regulations. . Services such as data management or legal and administrative DApps retain the service obligation. Only works for local users who comply with applicable policies. In the future, we will frequently cooperate with organizations involved in the audacious and unlawful investigation and surveillance of third party content.

"Heavy Punch" director shakes up the exchange rate world

Since May of this year, the regulation of national financial management has become more stringent and the violation of virtual mining and business benefits has increased, indicating a lack of governance.

On September 24, 10 departments and committees, including the Central Bank, Financial Institution Management, China Cyberspace Administration, Foreign Exchange Administration, Supreme People's Court, and Supreme People's Procuratorate, announced an advisory on prevention. and risk control of virtual hype “I'm done. "Currency trading" means "any notice" means that all currency exchanges, virtual currency markets based on virtual currencies, virtual currency sharing services, financial token offerings and virtual currency exchanges are only for financial crime and are strictly prohibited. It is also an illegal financial crime for foreign currency to provide services to Chinese people on the Internet.

Insiders pointed out that the terms of the "notification" directly refer to parties to the virtual currency trading platform and over-the-counter (OTC) traders.

Guo Yatao, head of the legal team, told reporters from China Securities News that the "Notice" indicates that the workers are providing exchange services. Foreigners in China should have legal responsibilities and establish three kinds of orders to be able to concentrate. . : Business and support, payment and compensation, business support, that is, if the services provided by the business in the sector are considered illegal financial, the rules for providing services for financial crimes are as follows .