After Huobi and OKEx, another cryptocurrency exchange is facing an investigation initiated by the Chinese government. The government is thought to be putting pressure on the digital currency industry as the countdown to the digital yuan launch takes place.
The Chinese government has launched an investigation into TokenBetter, a trading platform for digital assets. It is alleged that after the raid on TokenBetter’s headquarters in Sichuan state, platform officials stopped trading on the exchange.
Chinese cryptocurrency journalist Colin Wu shared a post on Twitter and shared his information about the incident. Wu said that there was a police raid on the center and that the activities on the platform were stopped. Wu also stated that TokenBetter users could not withdraw their money. Wu also claimed that the platform received a $ 50 million investment prior to the developments, but that the figure may have been inflated.
According to FXStreet, it was determined that the official responsible for withdrawal transactions on the TokenBetter platform has been under investigation since October 16, and it has not been possible to withdraw money from the platform for about 1 month. Currently, the platform’s website cannot be accessed. The date of the last Tweet sent from the TokenBetter Twitter account is on October 15th.