Feixiaohao Team Faces Extended Investigation Amidst Chinese Police Crackdown

• Feixiaohao’s prolonged investigation raises serious concerns for its future in China’s crypto market.
• Key team members’ detention hints at the gravity of allegations against Feixiaohao.
• Operational delays suggest Feixiaohao may struggle to continue amid legal challenges.

The Feixiaohao team, behind one of China’s largest cryptocurrency market data platforms, has reportedly been under investigation by the Inner Mongolia police for over six months. This prolonged investigation has led to concerns within the cryptocurrency community, as key members of the Feixiaohao team have been taken into custody. 

The ongoing police investigation into Feixiaohao has sparked unease among its exchange partners and users. According to sources, multiple attempts to contact the platform’s representatives have been unsuccessful, further fueling speculation about the severity of the situation. 

The fact that key team members have been in custody for such an extended period suggests that the case may be more serious than initially anticipated. Typically, in China, if detainees are not released within 37 days, it often indicates the gravity of the allegations against them.

Despite the ongoing investigation, Feixiaohao’s platform remains operational, though with noticeable delays. The website continues to update cryptocurrency data, primarily through automated crawlers. 

However, the pace of these updates has slowed, especially in sections requiring active input. This has raised concerns about how long the platform can continue functioning under these conditions, with some predicting that Feixiaohao may have to cease operations by next year.

Feixiaohao has been a player in the Chinese cryptocurrency market, offering comprehensive data on various cryptocurrencies, similar to platforms like CoinGecko. 

Its influence grew, particularly after the decline of other market websites such as MyToken. However, the 2021 crackdown on cryptocurrency activities in China, following the 924 document, has put immense pressure on platforms like Feixiaohao, further complicating their operations within the country.

As the investigation drags on, the future of Feixiaohao remains in doubt. The platform, once a staple for many in the Chinese cryptocurrency community, may face permanent closure if the investigation results in severe legal consequences.