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GXChain closes its doors following an investigation

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September 16, 2019 by Océane

GXChain, the crypto-based platform in China, has suffered a seizure on the part of the police for unknown reasons. This company, which has made a ICO to success in 2017, would have been the new target of the witch hunt conducted by the local authorities, ” says an observer.

GXChain seized by the authorities

Undertake in the field of crypto-currencies is increasingly difficult in the land of china. While the government had formally banned the activities of ICO following the huge losses caused by scams and other systems of attractions financial non-regulated, the cleaning process continues until today.
Actually, it is the platform GXChain, a company heavily hyped, with a market capitalization of $ 600 million at the time, who was a victim of the suspicion of the investigators, leading to its recent closure.

GXChain seized in spite of its legitimacy

After the post-Dovey Wan, the founding partner of Primitive Crypto, no information would have been communicated on the grounds for the seizure of materials GXChain during the operation.
At the same time, Wan says that GXChain has succeeded in its ICO, and that there would be no valid reason (pending further investigation) that would motivate this closure.
She also announced that the single track under this repression could be linked to the illegal activity from the activity data of GXChain.

“They sell credit data processed, which is an extremely sensitive area in China,” she says, after having referred to the nature incomprehensible gesture of the authorities, knowing that there are countless cases of fraud to investigate outside of the case GXChain.

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Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.