China’s Social Media Giant Weibo Purges Crypto Content, Bans Users

China Social media
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Tim Alper
Author Categories
About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
A person’s hand holds a mobile phone and is about to launch a Chinese social media app, with WeChat, Alipay, TikTok, and Weibo icons displayed.
Source: Adam/Adobe

The Chinese social media titan Weibo has deleted 80 popular crypto-related accounts and removed “17,000 illegal profit-making-related posts” from its platform.

The firm’s operator Sina says Weibo has some 258 million daily active users.

It thrives in a nation where popular international social media platforms like Twitter, Facebook, Reddit, and Instagram have been blocked.

A graph showing the growth in users on Weibo between 2018 and 2023.

But while crypto trading is de facto banned in China, a few popular Chinese-language Weibo accounts have continued to post crypto-related content.

Cryptonews.com has seen evidence that some (albeit less popular) Weibo accounts are still posting crypto-related content at the time of writing.

Token trading remains popular in China, once the crypto mining and trading center of the world.

But most Chinese traders have been forced into OTC markets.

Banks were ordered to block all crypto exchange-linked transactions last year.

This followed a 2021 announcement along similar lines from the biggest commercial banks in China.

The 80 accounts had over 8 million followers each, a testimony to crypto’s enduring popularity among Chinese language speakers.

When Cryptonews.com attempted to access some of the Weibo accounts in question, the platform displayed messages that read:

“This account is no longer viewable due to complaints that it violated laws, regulations, and relevant sections of the Weibo Community Convention.”

The same users’ X (Twitter) and Telegram accounts mostly appear to be operating as usual.

Per an official Sina-Weibo statement, the accounts had violated T&C clauses related to marketing, internet safety, telecommunications, and trade.

Just over a year ago the Cyberspace Administration of China (CAC), the nation’s internet regulator, banned the “marketing” of crypto-related products and services.

The CAC directly ordered Weibo, the search engine Baidu, and other Chinese portals to remove 12,000 crypto-linked accounts, as well as some 51,000 social media posts.

China’s Weibo Crypto Purge: Part of a Wider Crackdown?

On X (Twitter), the user and broadcaster Moonlight remarked:

“Some people say that as long as your [Weibo] account is not too big, it will not be blocked. But if your account is blocked after it has amassed a certain number of followers, won’t all your efforts have been in vain?”

Other Chinese-language crypto-related X accounts posted a list of the now-banned users.

It appears crypto was not the only target of the Weibo crackdown.

The social media firm said that it had banned, deleted, suspended, warned, or sanctioned around 140,000 accounts it suspected of spreading “fake news” or “harmful information.”

Other accounts were suspended for violating Weibo’s advertising regulations.

The firm also said that “more than 7,000” posts based on “rumors” had been taken off the platform, along with 135 “rumor-mongering accounts.”

More Articles

Price Analysis
Price Breakthrough Forecast: The Next XRP Rally Could Be Here Soon
Arslan Butt
Arslan Butt
2025-02-09 14:21:48
Altcoin News
Gold-Backed Altcoins Boom as Major Banks Raise Price Predictions: Which Coins to Get
Arslan Butt
Arslan Butt
2025-02-09 12:55:24
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors