Chinese exchange TokenBetter suspends withdrawals amid investigation

Sichuan police investigate TokenBetter as withdrawals remain suspended.

Sichuan police are investigating the activities of the TokenBetter exchange. Journalist Colin Wu reported this.

Wu learned that after OK and Huobi, another exchange from China, TokenBetter, was investigated by the police in Sichuan, China. Earlier, it claimed to have received an investment of 50 million US dollars, but the probability is exaggerated. pic.twitter.com/IR6tFwypk9

— Colin Wu（WuBlockchain） (@WuBlockchain) November 9, 2020

It has emerged that after OKEx and Huobi, Sichuan police are investigating another Chinese exchange — TokenBetter. Earlier, it claimed to have attracted $50 million in investments, but that claim is exaggerated.

Wu added that withdrawals on the trading venue have been unavailable for nearly a month.

This exchange banned withdrawals on October 16, saying that the person in charge is still under investigation today.

— Colin Wu（WuBlockchain） (@WuBlockchain) November 9, 2020

On Oct. 16, the exchange made withdrawals unavailable, stating that the person in charge remains under investigation.

As of this writing, the exchange’s website is unavailable. TokenBetter has shown no activity on Twitter and Facebook since October 15.

Earlier, Colin Wu linked the recent Huobi token crash to reports of an open Chinese police investigation into the exchange’s chief operating officer. Huobi denied this information.

Recall, on Oct 16 OKEx suspended withdrawals, explaining this as a loss of contact with the private-key holder who cooperates with law enforcement. Media reported the arrest of the platform’s founder Star Yu, but an OKEx spokesman denied this in an interview with ForkLog.

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