• bitcoinBitcoin(BTC)$20,205.005.74%
    BITCOIN
    24H : 5.74%
    Volume : $19,207,729,776.00
    Marketcap : $385,188,635,635.00
  • ethereumEthereum(ETH)$1,145.729.00%
    ETHEREUM
    24H : 9.00%
    Volume : $13,956,187,081.00
    Marketcap : $136,754,382,125.00
  • tetherTether(USDT)$1.000-0.20%
    TETHER
    24H : -0.20%
    Volume : $49,113,626,251.00
    Marketcap : $66,037,518,609.00
  • usd-coinUSD Coin(USDC)$1.00-0.08%
    USD COIN
    24H : -0.08%
    Volume : $5,061,055,655.00
    Marketcap : $55,915,345,849.00
  • rippleXRP(XRP)$0.3262.39%
    XRP
    24H : 2.39%
    Volume : $942,253,499.00
    Marketcap : $15,761,648,933.00
  • cardanoCardano(ADA)$0.4654.17%
    CARDANO
    24H : 4.17%
    Volume : $817,795,863.00
    Marketcap : $15,708,120,639.00
  • dogecoinDogecoin(DOGE)$0.0693.78%
    DOGECOIN
    24H : 3.78%
    Volume : $298,051,780.00
    Marketcap : $9,167,364,534.00
  • daiDai(DAI)$1.00-0.13%
    DAI
    24H : -0.13%
    Volume : $209,904,738.00
    Marketcap : $6,437,238,385.00
  • tronTRON(TRX)$0.0683.12%
    TRON
    24H : 3.12%
    Volume : $602,380,399.00
    Marketcap : $6,318,658,212.00
  • leo-tokenLEO Token(LEO)$5.75-2.08%
    LEO TOKEN
    24H : -2.08%
    Volume : $1,902,264.00
    Marketcap : $5,394,184,613.00
  • litecoinLitecoin(LTC)$51.713.73%
    LITECOIN
    24H : 3.73%
    Volume : $377,866,342.00
    Marketcap : $3,653,863,960.00
  • okbOKB(OKB)$12.865.19%
    OKB
    24H : 5.19%
    Volume : $9,338,884.00
    Marketcap : $3,294,768,817.00
  • crypto-com-chainCronos(CRO)$0.1175.49%
    CRONOS
    24H : 5.49%
    Volume : $18,438,054.00
    Marketcap : $2,964,189,826.00
  • chainlinkChainlink(LINK)$6.355.16%
    CHAINLINK
    24H : 5.16%
    Volume : $424,386,518.00
    Marketcap : $2,962,307,457.00
  • stellarStellar(XLM)$0.1102.98%
    STELLAR
    24H : 2.98%
    Volume : $126,011,736.00
    Marketcap : $2,756,146,129.00
  • cosmosCosmos Hub(ATOM)$8.7911.47%
    COSMOS HUB
    24H : 11.47%
    Volume : $451,039,049.00
    Marketcap : $2,571,263,984.00
  • moneroMonero(XMR)$123.416.89%
    MONERO
    24H : 6.89%
    Volume : $73,698,264.00
    Marketcap : $2,238,108,794.00
  • algorandAlgorand(ALGO)$0.3205.96%
    ALGORAND
    24H : 5.96%
    Volume : $71,442,541.00
    Marketcap : $2,226,681,277.00
  • ethereum-classicEthereum Classic(ETC)$15.305.46%
    ETHEREUM CLASSIC
    24H : 5.46%
    Volume : $124,622,447.00
    Marketcap : $2,072,259,146.00
  • bitcoin-cashBitcoin Cash(BCH)$106.582.58%
    BITCOIN CASH
    24H : 2.58%
    Volume : $529,702,063.00
    Marketcap : $2,035,856,711.00
  • vechainVeChain(VET)$0.0234.37%
    VECHAIN
    24H : 4.37%
    Volume : $106,683,117.00
    Marketcap : $1,673,572,727.00
  • tezosTezos(XTZ)$1.535.82%
    TEZOS
    24H : 5.82%
    Volume : $61,891,814.00
    Marketcap : $1,365,229,744.00
  • theta-tokenTheta Network(THETA)$1.244.93%
    THETA NETWORK
    24H : 4.93%
    Volume : $46,672,358.00
    Marketcap : $1,244,333,272.00
  • eosEOS(EOS)$0.9775.80%
    EOS
    24H : 5.80%
    Volume : $135,376,577.00
    Marketcap : $977,066,491.00
  • paxos-standardPax Dollar(USDP)$1.00-0.06%
    PAX DOLLAR
    24H : -0.06%
    Volume : $11,701,581.00
    Marketcap : $855,786,117.00
  • makerMaker(MKR)$942.816.68%
    MAKER
    24H : 6.68%
    Volume : $66,238,184.00
    Marketcap : $849,042,294.00
  • iotaIOTA(MIOTA)$0.2784.71%
    IOTA
    24H : 4.71%
    Volume : $10,934,722.00
    Marketcap : $770,256,914.00
  • zcashZcash(ZEC)$58.168.93%
    ZCASH
    24H : 8.93%
    Volume : $77,787,133.00
    Marketcap : $733,037,819.00
  • huobi-tokenHuobi(HT)$4.585.66%
    HUOBI
    24H : 5.66%
    Volume : $15,907,169.00
    Marketcap : $707,439,712.00
  • basic-attention-tokenBasic Attention(BAT)$0.4157.13%
    BASIC ATTENTION
    24H : 7.13%
    Volume : $69,450,279.00
    Marketcap : $620,229,383.00
  • wavesWaves(WAVES)$5.394.23%
    WAVES
    24H : 4.23%
    Volume : $227,124,240.00
    Marketcap : $538,415,104.00
  • dashDash(DASH)$44.005.31%
    DASH
    24H : 5.31%
    Volume : $74,589,988.00
    Marketcap : $474,960,461.00
  • nemNEM(XEM)$0.0410.860%
    NEM
    24H : 0.860%
    Volume : $19,745,863.00
    Marketcap : $371,813,990.00
  • decredDecred(DCR)$23.294.89%
    DECRED
    24H : 4.89%
    Volume : $951,785.00
    Marketcap : $329,861,897.00
  • qtumQtum(QTUM)$2.884.83%
    QTUM
    24H : 4.83%
    Volume : $61,531,789.00
    Marketcap : $299,655,560.00
  • bitcoin-goldBitcoin Gold(BTG)$15.883.77%
    BITCOIN GOLD
    24H : 3.77%
    Volume : $5,353,375.00
    Marketcap : $277,739,964.00
  • ravencoinRavencoin(RVN)$0.0233.22%
    RAVENCOIN
    24H : 3.22%
    Volume : $5,926,051.00
    Marketcap : $264,874,136.00
  • omisegoOMG Network(OMG)$1.864.67%
    OMG NETWORK
    24H : 4.67%
    Volume : $27,773,550.00
    Marketcap : $261,070,991.00
  • 0x0x(ZRX)$0.3014.02%
    0X
    24H : 4.02%
    Volume : $19,058,060.00
    Marketcap : $255,205,938.00
  • iconICON(ICX)$0.2953.96%
    ICON
    24H : 3.96%
    Volume : $6,151,596.00
    Marketcap : $229,950,146.00
  • ontologyOntology(ONT)$0.2404.15%
    ONTOLOGY
    24H : 4.15%
    Volume : $12,696,945.00
    Marketcap : $209,783,709.00
  • liskLisk(LSK)$1.053.09%
    LISK
    24H : 3.09%
    Volume : $2,963,647.00
    Marketcap : $152,044,155.00
  • augurAugur(REP)$8.062.80%
    AUGUR
    24H : 2.80%
    Volume : $7,359,090.00
    Marketcap : $61,003,897.00
  • bitcoin-diamondBitcoin Diamond(BCD)$0.1731.52%
    BITCOIN DIAMOND
    24H : 1.52%
    Volume : $295,077.00
    Marketcap : $32,464,100.00
  • bytomBytom(BTM)$0.0124.40%
    BYTOM
    24H : 4.40%
    Volume : $798,105.00
    Marketcap : $20,331,306.00
  • monacoinMonaCoin(MONA)$0.5091.03%
    MONACOIN
    24H : 1.03%
    Volume : $68,431.00
    Marketcap : $0.00
Cryptotelegraph
  • bitcoin
    Bitcoin
    $20,205.00
  • ethereum
    Ethereum
    $1,145.72
  • tether
    Tether
    $1.000
  • usd-coin
    USD Coin
    $1.00
  • binancecoin
    BNB
    $232.08
    • News
      • Bitcoin News
      • Ethereum News
      • Crypto News
      • Crypto Technology
      • Analysis
      • Blockchain News
      • Industry News
      • NFTs
      • ICO News
      • Press Releases
    • Market Cap
    • Exchanges
    • ICOs
    • Videos
      • Bitcoin Videos
      • Ethereum Videos
      • Altcoin Videos
      • Blockchain Videos
      • ICO Videos
    • Submit Press Release
      • Read Press Releases
    • Contact Us
    No Result
    View All Result
    Cryptotelegraph.com
    No Result
    View All Result
    Home News ICO News

    Popular ICO GXChain Faces Apparent Chinese Police Crackdown

    Andy K by Andy K
    February 9, 2020
    in ICO News
    Reading Time: 3 mins read
    15.6k 157
    0
    Popular ICO GXChain Faces Apparent Chinese Police Crackdown
    2.7k
    SHARES
    68.4k
    VIEWS
    Share on FacebookShare on Twitter

    The Chinese government has reportedly shut down a popular and well-funded crypto company called GXChain, which at its peak had a market cap of over $600 million USD.

    News of this crackdown swiftly led GXChain’s price to plummet, and once more official news surrounding this crackdown is released it is highly probable that the crypto’s price will continue dropping lower and could ultimately face a liquidity crisis as buyers disappear.

    Related articles

    Crypto Goes Narcos as Escobar Estate Launches New Stablecoin ICO

    Crypto Goes Narcos as Escobar Estate Launches New Stablecoin ICO

    February 9, 2020
    Malaysia to Jail Illegal ICO and Crypto Exchanges Operators for 10 Years

    Malaysia to Jail Illegal ICO and Crypto Exchanges Operators for 10 Years

    February 9, 2020

    GXChain Plummets Amidst Chinese Police Crackdown 

    At the time of writing, GXChain (GXC) is trading down nearly 20% at its current price of $0.624, which marks a steep retreat from its recent highs of nearly $1.50 that were set in early-August.

    This massive drop was further perpetuated today when news broke today regarding the company’s offices being shut down by the Chinese government, which may ultimately lead the crypto to plummet towards zero as its liquidity dries up.

    Dovey Wan, founding partner of Primitive Crypto, broke the news about the company being shut down, explaining that it was once of the most popular ICO projects in 2017.

    “BREAKING: Another high profile 2017 ICO project GXChain $GXC just got clamped down by the Chinese police. GXChain was a very hot ICO back in the days with ATH market cap over $600M (even now still holds $48M) and considered to be among the very few legit ICOs,” he explained.

    BREAKING

    Another high profile 2017 ICO project GXChain $GXC just got clamped down by the Chinese police

    😱😱😱

    GXChain was a very hot ICO back in the days with ATH market cap over $600M (even now still holds $48M) and considered to be among the very few legit ICOs … pic.twitter.com/6uUPBx8og9

    — Dovey Wan 🗝 🦖 (@DoveyWan) September 11, 2019

    GXC’s Business Model May Have Sparked Police Crackdown

    It’s no secret that Chinese authorities are no friends of cryptocurrency, but why they chose to target GXChain instead of other far shadier crypto projects that are located in China still remains mysterious, and the company has not yet released an official statement regarding the imbroglio.

    Wan further added that one possible cause behind this crackdown could be their business model – which entails selling processed personal credit data – which is a “highly sensitive area” in China presently.

    “Tbh I have no idea why the police took action against GXchain instead of 10000 other Chinese scams, as GXchain has a real business behind. The trigger might be their data business- they sell processed personal credit data, which is a highly sensitive area now in China,” Wan noted.

    tbh I have no idea why the police took action against GXchain instead of 10000 other Chinese scams, as GXchain has a real business behind. The trigger might be their data business- they sell processed personal credit data, which is a highly sensitive area now in China

    — Dovey Wan 🗝 🦖 (@DoveyWan) September 11, 2019

    As more official news surrounding this situation is released, it is highly likely that it will grow increasingly clear as to just how big of a long-term impact

    Read More From Original Source

    Tags: CryptoGXChain
    Share1094Tweet684
    Andy K

    Andy K

    Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

    Fun Fact : Despite other staff members helping themselves daily - Andy has a 'never-ending' container of 'Jelly beans' always sat on his desk, it's magic!

    Related Posts

    Crypto Goes Narcos as Escobar Estate Launches New Stablecoin ICO

    Crypto Goes Narcos as Escobar Estate Launches New Stablecoin ICO

    by Andy K
    February 9, 2020
    0

    The late Pablo Escobar is infamous for a number of reasons but crypto has not been among them, until now....

    Malaysia to Jail Illegal ICO and Crypto Exchanges Operators for 10 Years

    Malaysia to Jail Illegal ICO and Crypto Exchanges Operators for 10 Years

    by Andy K
    February 9, 2020
    0

    Running an unregistered crypto exchange or an initial coin offering (ICO) in Malaysia could land the operator in jail for...

    eToro CEO: BitTorrent ICO With 100M Users is Smart, May Invest

    eToro CEO: BitTorrent ICO With 100M Users is Smart, May Invest

    by Andy K
    February 9, 2020
    0

    When the bosses of huge trading firms start paying attention to ICOs they are usually worth a second look. The...

    Why is Kik Challenging The SEC In Anticipated Crypto ICO Court Case?

    Why is Kik Challenging The SEC In Anticipated Crypto ICO Court Case?

    by Andy K
    February 9, 2020
    0

    Ever since initial coin offerings (ICOs) became mainstream, regulators, especially the U.S.’ governmental agencies, have sought to make moves against...

    SEC Commissioner Asks Gov’t to Amend Regulation For Bitcoin ETF, ICOs

    SEC Commissioner Asks Gov’t to Amend Regulation For Bitcoin ETF, ICOs

    by Andy K
    February 9, 2020
    0

    Whether or not financial innovations like Bitcoin could fit inside the parameters of old-school laws became the central point of...

    Load More

    Discussion about this post

    Partners

    Crypto Prices

    bitcoin Bitcoin
    $20,205.00
    $20,205.00
    EUR: €19,377.04
    GBP: £16,688.60
    7D Chart5.74%
    ethereum Ethereum
    $1,145.72
    $1,145.72
    EUR: €1,098.77
    GBP: £946.32
    7D Chart9.00%
    tether Tether
    $1.000
    $1.000
    EUR: €0.959
    GBP: £0.826
    7D Chart-0.20%
    usd-coin USD Coin
    $1.00
    $1.00
    EUR: €0.960
    GBP: £0.827
    7D Chart-0.08%
    binancecoin BNB
    $232.08
    $232.08
    EUR: €222.57
    GBP: £191.69
    7D Chart7.54%
    ripple XRP
    $0.326
    $0.326
    EUR: €0.313
    GBP: £0.269
    7D Chart2.39%
    cardano Cardano
    $0.465
    $0.465
    EUR: €0.446
    GBP: £0.384
    7D Chart4.17%
    polkadot Polkadot
    $6.99
    $6.99
    EUR: €6.70
    GBP: £5.77
    7D Chart4.42%
    wrapped-bitcoin Wrapped Bitcoin
    $20,207.00
    $20,207.00
    EUR: €19,378.96
    GBP: £16,690.25
    7D Chart5.81%
    litecoin Litecoin
    $51.71
    $51.71
    EUR: €49.59
    GBP: £42.71
    7D Chart3.73%
    chainlink Chainlink
    $6.35
    $6.35
    EUR: €6.09
    GBP: £5.24
    7D Chart5.16%
    stellar Stellar
    $0.110
    $0.110
    EUR: €0.106
    GBP: £0.091
    7D Chart2.98%
    uniswap Uniswap
    $5.30
    $5.30
    EUR: €5.08
    GBP: £4.38
    7D Chart11.51%
    monero Monero
    $123.41
    $123.41
    EUR: €118.35
    GBP: £101.93
    7D Chart6.89%
    bitcoin-cash Bitcoin Cash
    $106.58
    $106.58
    EUR: €102.21
    GBP: £88.03
    7D Chart2.58%
    tezos Tezos
    $1.53
    $1.53
    EUR: €1.47
    GBP: £1.26
    7D Chart5.82%
    bitcoin-cash-sv Bitcoin SV
    $55.67
    $55.67
    EUR: €53.39
    GBP: £45.98
    7D Chart6.61%
    eos EOS
    $0.977
    $0.977
    EUR: €0.937
    GBP: £0.807
    7D Chart5.80%
    aave Aave
    $62.69
    $62.69
    EUR: €60.12
    GBP: £51.78
    7D Chart11.11%
    havven Synthetix Network
    $2.74
    $2.74
    EUR: €2.63
    GBP: £2.26
    7D Chart9.43%
    • Trending
    • Comments
    • Latest
    Blockchain | Hack Script 2020 GENERATES Unlimited 100% WORKING bitcoin hacked

    Blockchain | Hack Script 2020 GENERATES Unlimited 100% WORKING bitcoin hacked

    March 14, 2020
    Blockchain unconfirmed transaction hack 100% Working! New proof!

    Blockchain unconfirmed transaction hack 100% Working! New proof!

    March 13, 2020
    Blockchain Hack Script 2020 GENERATES Unlimited Bitcoin 100% WORKING bitcoin hacked

    Blockchain Hack Script 2020 GENERATES Unlimited Bitcoin 100% WORKING bitcoin hacked

    February 11, 2020
    🔥 Forsage 🚀 (Fast and Furious) – Fully Decentralized Matrix program on Ethereum Smart Contract 🔥

    🔥 Forsage 🚀 (Fast and Furious) – Fully Decentralized Matrix program on Ethereum Smart Contract 🔥

    March 31, 2020
    Ripple XRP Token

    Ripple and XRP – The Convoluted Truth Behind XRP’s Creation

    0
    Bitcoin cash hard fork. BitcoinCash Hard fork (BCH Hard fork)

    Bitcoin Cash ‘hard fork’ What you need to know about it

    0
    Crytotelegraph - Crypto News & Reviews - Bitcoin & Altcoins

    Bitcoin price news: 10 year forecast shows bitcoin ‘WON’T DIE’ Latest BTC prediction

    0
    BAKKT Futures: BAKKT Warehouse & Bitcoin Exchange

    Will Bakkt Send Bitcoin’s price skyrocketing?

    0
    TA: Ethereum Close Below $1K Could Spark Larger Degree Downtrend

    TA: Ethereum Close Below $1K Could Spark Larger Degree Downtrend

    July 4, 2022
    The First Anniversary of CoinEx Smart Chain (CSC): Link the World with Blockchain

    The First Anniversary of CoinEx Smart Chain (CSC): Link the World with Blockchain

    July 4, 2022
    Pledged Capital Runs Token Sale on P2PB2B

    Pledged Capital Runs Token Sale on P2PB2B

    July 4, 2022
    Bitsliced, the Revolution Behind Asset Tokenization

    Bitsliced, the Revolution Behind Asset Tokenization

    July 4, 2022

    Cryptotelegraph.com




    The Cryptotelegraph is a Crypto News Magazine ‘Startup’ that hunts high and low to compile the very latest crypto news and reviews from around the web, whilst at the same time producing thought provoking articles and interpretations surrounding the cryptocurrency market today!


    Read More





    Disclaimer

    Information found on Cryptotelegraph is those of referring websites (or) writers quoted. It does not represent the opinions of Cryptotelegraph on whether or not to buy, trade, sell or hold any investments. You are advised to conduct your own research before making any investment decisions. Use all provided information at your own risk. Full disclaimer.

    Crypto News

    TA: Ethereum Close Below $1K Could Spark Larger Degree Downtrend

    The First Anniversary of CoinEx Smart Chain (CSC): Link the World with Blockchain

    Pledged Capital Runs Token Sale on P2PB2B

    Bitsliced, the Revolution Behind Asset Tokenization

    Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

    Fintech-Ideas Brings Blockchain Functionality to Its Range of Platforms

    Donations Welcome




    Bitcoin Address : 3AhxNswMkD5tjJJ544NRCwWhCDXHJ5GTzq

    Ethereum Address : 0x9627FB741C19e1a70E7006F2B0D0c26d14AA1816

    Bitcoin Cash Address : qq93an6n9unnu496vpcx684zekkmn4yk6g79kllf7d

    Litecoin Address : MKVphBBJkBbjSh4D6aFLds9XHE1rnS9iHW





    © Copyrights 2017 - 2021 Cryptotelegraph.com. All Rights Reserved.

    Contact    About    Privacy & Cookie Policy

    No Result
    View All Result
    • News
      • Bitcoin News
      • Ethereum News
      • Crypto News
      • Crypto Technology
      • Analysis
      • Blockchain News
      • Industry News
      • NFTs
      • ICO News
      • Press Releases
    • Market Cap
    • Exchanges
    • ICOs
    • Videos
      • Bitcoin Videos
      • Ethereum Videos
      • Altcoin Videos
      • Blockchain Videos
      • ICO Videos
    • Submit Press Release
      • Read Press Releases
    • Contact Us

    © Cryptotelegraph.com

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.