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 an effort targeted 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 had 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.

While this is not the first time that Binance got its official Weibo account suspended, this is the first known instance where the three exchanges got targeted at the same time. 

Huobi, OKEx and Binance, commonly referred to as HBO in China, are the most widely used crypto exchange platforms within the Chinese crypto community. 

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

Immediately after Chinese users noticed the suspension online, HBO's native exchange tokens HT, OKB and BNB started to see a drop between 3% to 7%, data shows.

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Aug 11, 2021, 5:18PM UTC