Chinese Bitcoin Tycoon Xu Mingxing Questioned by Police
A Chinese cryptocurrency tycoon was detained by the police late Monday amid a dispute with investors who had huge losses on his bitcoin exchange platform.
Xu Mingxing, founder and CEO of OKCoin, one of the world’s largest bitcoin exchanges, was questioned by Shanghai police together with some of OKCoin’s investors.
Many investors complained that on Sept. 5, when bitcoin and other cryptocurrencies plunged by nearly 10%, OkCoin’s platform crashed, causing significant losses for many investors who trade cryptocurrency futures on the platform.
- 1In Depth: Tesla Charges Into China
- 2China Biz Roundup Podcast: Factory Inflation Stalls, iPhone Discounts, and Private Kindergarten Closures
- 3Update: China’s New Credit Growth Hits Record High
- 4 Operators of ‘Underground Banks’ Which Move Cash Out of China to Face Jail
- 5China Suspends Registration of Direct Selling Firms
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas