Chinese social media Weibo suspends Huobi, OKEx and Binance accounts

Chinese Twitter-alike social media Weibo has suspended the official accounts of Huobi, OKEx, Binance and MXC in what appears to be a targeted effort on crypto exchanges.

Around 7:15 UTC on Thursday, Chinese crypto Weibo users started to notice that the accounts of Huobi, OKEx, Binance and MXC have become inaccessible.

It is not immediately clear what led to the seemingly targeted effort since Weibo can censor profiles and online content based on its own standard as well as under the direction of the Chinese government.

The social media only said these accounts have allegedly violated laws and its community rules but didn’t give further clarification.

Huobi, OKEx and Binance, commonly referred to as H.B.O in China, are the most widely used crypto exchange platforms among Chinese investors.

The suspension appears to have caused some uncertainty among Chinese investors. 

Immeidately after Chinese users noticed the suspension online, H.B.O’s native exchange tokens HT, OKB and BNB started to see a drop by between 3% to 7%, data shows.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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