$20 Billion in Coinbase Assets held in Imtoken Wallet

The founder of Imtoken, major Chinese Ethereum wallet provider Ben He claimed that $35 billion worth of crypto assets are currently stored in Imtoken wallets
05 June 2018   1923

Imtoken also declared that it has gained $10 million USD from IDG Capital, and is soon going to integrate support for BTC. Imtoken displayed that it has increased $10 million USD from IDG Capital via its Series A funding round. The firm that affirms to be the world’s largest Ethereum wallet, will now be concerned on splaying in the Asian and United States cryptocurrency markets.

Ben He, Imtoken’s founder, pointed out the firms’s intendance to enter the Southeast Asian markets before looking toward major regional players such as Korea, Japan, and India - stating that declared jurisdictions’ “regulations are maturing quickly.” Imtoken will look toward major African markets, such as Nigeria, after Asian market.

We didn’t have any marketing or promotional budget. We noticed very early the potential of Ethereum and focused on it to differentiate against competitors.
Ben He
Founder, CEO, Imtoken

Imtoken presented that much of the newly raised capital will be put toward developing new features, including support of BTC, EOS, and a row of another altcoins.

Imtoken has developed its product into one of the top crypto asset wallets in the world with such a sound reputation. We believe it will become a significant infrastructure for the tokenization manifesto, benefitting both the crypto economy and blockchain technology. We’re excited to back Imtoken.
Young Guo
Capital Partner, IDG

The company’s app has grown to store since 2016, more than $35 billion worth of cryptocurrency assets, including “More than $20 billion” worth of Coinbase’s customers funds, as reported by a Coinbase spokesperson. Since January, Imtoken users are expected to have accounted for approximately 10% of daily activity taking place on the Ethereum blockchain.

Great Chinese Firewall to Block ETH Explorer

Looks like it's the first time that a blockchain observer (etherscan. io in this case) has become a target for Internet censorship in China
04 December 2019   116

The Great Chinese Firewall, used by the authorities to regulate access to foreign sites, blocked etherscan.io, one of the most popular services for viewing the statistics of the Ethereum network.

According to CoinDesk, as of early December, the portal is not accessible from IP addresses in mainland China. According to the service greatfire.org, blocking has been carried out at least since October 30.

Presumably this is the first time that a blockchain observer has become a target for Internet censorship in China.

This is another instance of friction between the decentralized and immutable technology of blockchain and the tightly controlled, centralized government of China. We should expect additional problems like these in the future as blockchain is integrated further into the Chinese economy and daily life.

Matthew Graham

CEO, Sino Global Capital

In his opinion, we should expect similar problems in the future, since the blockchain is increasingly being integrated into the Chinese economy.

It is not known exactly what caused etherscan.io to become blocked.

Last year, it was reported that users encoded censored articles in an Ethereum transaction and shared the hashes of these transactions in the WeChat messenger using etherscan.io.

Some have used this feature to post sensitive messages without the need to worry about the message being blocked or removed, or their identity being exposed. Anyone with a blockchain explorer like Etherscan can view these messages, so it is not surprising that this website has come in the crosshairs of internet censors.

Matthew Graham

CEO, Sino Global Capital

The founder of etherscan.io, Matthew Tan, confirmed that the site in China has been blocked "for the past three months." He could not name the exact date and reason for what happened.