A member of the Chinese internet community has reported that, Haipo Yang, the founder of both ViaBTC and CoinEx has been subject to arrest on October 30th. Later on, the CoinEx Telegram group administrator responded directly to these allegations, claiming that they were ‘purely fictitious'.

It was during that evening, however, that Haipo Yang's Twitter account forwarded the news and laconically commented ‘interesting'. A few days later, a number of CoinEx users revealed that they were having issues with withdrawing tokens from their accounts, with some token withdrawals not being received for more than 24 hours. While Yang's Twitter account replied to the allegation, there has been no legitimate response from either of these organizations, we he arrested?

According to updates from November, there have been confirmations that CoinEx is still processing BTC withdrawals and users are still receiving them. BCH withdrawals, on the other hand, have been seeing an increased level of slowing and stalling.

Where did this rumor first emerge? It happened on a private WeChat group called ‘Real China Power' which was hosted by the Chinese blockchain executive Elly Zhang. Zhang stated that Mr. Haipo Yang had since been arrested and was under the jurisdiction of the Nantou Police Station in Shenzhen.

The chat was then screenshotted by Bitcoin Gold founder Jack Liao — who is known to have long-term personal and business issues with Yang and Bitmain CEO Jihan Wu.

Liao made sure to post the screenshot on his Weibo and WeChat moment, and soon thereafter, it began to rapidly spread within the Chinese crypto community.

Sometime in October 2018, a user of Sina Weibo alleged that someone had reported CoinEx to the Shenzhen financial office, and mentioned that the investigation could be related to the ICO of both ViaBTC and CoinEx, Yang being the CEO of both organizations. Along with this, there are reportedly screenshots of a conversation in the CoinEx internal group, which claimed that it wouldn't be illegal to perform an ICO ‘under the table'.

Haipo Yang’s companies are established in China, and he also holds a Chinese passport. It’s widely known that ICO activity has been banned in China since September 2017.

source: Sina Weibo

In order to try and confirm a number of these rumors, individuals have attempted to contact the Nantou police station in Shenzhen. The results were not exactly what journalists were hoping to hear, however, as a representative said that they would not disclose any private information unless the party's family members inquired, or were requested to do so by their immediate superior.

Attempts to communicate directly with Yang and Sara Ouyang, the COO of ViaBTC have proven useless, as their phones were switched off. As a result, there's no direct way to get in touch with those parties directly involved in this affair, meaning that there's no way to effectively confirm or deny any of the rumors or outstanding allegations, whatever they may be.

The silence, however, could also be a sign — in most cases like this, an exchange would likely want to reassure users as soon as possible that all was well.

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