Chinese Crypto Market Data Provider Feixiaohao Under Police Investigation

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Feixiaohao, a leading cryptocurrency market data provider in China, is currently under investigation by the Inner Mongolia police. The investigation, which has reportedly been ongoing for over six months, has led to the arrest of several key executives of the company.

While the precise reasons behind the investigation remain undisclosed, there are indications that it may involve compliance issues or disputes related to the platform’s business practices.

Feixiaohao has been a prominent player in China’s crypto ecosystem since its launch in 2017. It offers real-time data on digital assets and exchanges and is a major resource for cryptocurrency enthusiasts in the country.

Feixiaohao, often dubbed the Chinese version of CoinGecko, was established in August 2017 and quickly became the largest simplified Chinese crypto market data website, providing extensive information on over 14,000 cryptocurrencies.

Despite its success, the platform now faces significant legal challenges.

Reports suggest that Inner Mongolia authorities may be investigating Feixiaohao for promoting dubious exchanges and scam tokens, which have been a persistent issue within the broader crypto market.