Recently, a video of the seizure of the office of GXB (Hangzhou Cunxin Data Technology Co., Ltd.) was circulated on the Internet. After verification by many media in the industry, the matter was confirmed to be true.

Affected by the news, GXC (GXC) fell rapidly in a short period of time, falling as low as 0.6180 USDT, temporarily reported at 0.6222 USDT, an intraday drop of 18.35%.

Li Xiaolai seemed to respond to this matter on Weibo, sighing: "Doing angel investment is really not an easy thing!"

On May 15, 2017, Gongxinbao received a tens of millions of angel round investment jointly invested by Zhen Fund, angel investor Li Xiao and coin capital. Later, in July 2018, it obtained strategic investment from Yuandao, Fenbushi Capital and other capitals.

According to public information, Hangzhou Cunxin Data Technology Co., Ltd. was registered in October 2016 and released the white paper of Gongxinbao in February of the following year. The public trust chain GXChain it mentioned is a basic chain serving the global data economy, aiming to create a value network of trusted data. GXP will use blockchain technology to act as a decentralized platform to connect data buyers and sellers. When the buyer needs data, it will broadcast to the entire network through blockchain technology, and the data source will query its own offline database. , if there is relevant data, the smart contract transaction will be carried out, if not, no follow-up operation will be carried out.

Some industry insiders said that the investigation of Gongxinbao is likely to have nothing to do with the blockchain, and it may be due to the sensitive data of trading users.

In May of last year, some users exposed to Beep News that Gongxinbao sold the collected user data everywhere. At that time, CEO Huang Minqiang clarified that the user data of the block chain C-side application Block City is stored on the chain, and it does not exist. When it is impossible to "sell user data", he also said that in addition to the blockchain public chain business, GXT also has a technical output of intelligent data collection components, mainly to provide intelligent data collection components for Internet financial institutions. C-end users need to authorize their own data when using the financial institution's APP. The intelligent data collection component authorizes the collection on behalf of customers and directly encrypts and transmits it to the financial institution. It is also said that GXB can receive more than 20 million technical service fees every year.

In this incident, Open Finance and Economics also disclosed a "Price List of GXP Products and Services". Crawler crawling services for Sesame Credit, WeChat, Alipay, PBOC credit data, etc.

There are many other big data companies in a similar situation to GXP. According to an article on the public account "Science and Technology Finance Online", many big data companies in the mutual fund industry have been jittery recently.

Recently, it was reported that Hangzhou Magic Scorpion Data Technology Co., Ltd., a well-known big data service company in Hangzhou, was suspected of being controlled by the police. CEO Zhou Jiangxiang was taken away for investigation, and the official website of Magic Scorpion Technology has been unable to open.

In addition to being suspected of violating user privacy and buying and selling citizens’ personal information by using technical means, Magic Scorpion Technology is also suspected of operating its own cash loan business. It has invested in Hangzhou Xinbang Technology Co., Ltd., which has released cash loan products Xinbangdai and cash installment cloud platform.

In addition, Huang Xiangqian, CEO of Xinyan Technology, a big data financial risk control company, was also reported to have been taken away by the police for investigation. It is reported that Xinyan Technology assists violent collection and sends precise information on lenders and related parties to collection agencies.

Affected by this, many big data risk control companies also began to stop their business. On September 6, a third-party data service company, Juxinli, issued an announcement stating that it would stop providing user-authorized operator crawler services. As a chain reaction, downstream mutual financial companies were also affected, including Internet finance companies such as "Jinyidai" and "Incomedai", which are suspected of suspending their lending business because their suppliers suddenly stopped providing data.

The article pointed out that in the wave of mutual funds, thousands of big data suppliers have emerged. They collect data through crawlers, then clean and process it, and then output different products for different application scenarios. The business model of some big data companies is even simpler and rude. After purchasing data from the black market, it is simply packaged and sold directly to customers. Crawlers themselves are not prohibited by law, but the act of using crawler technology to obtain data has the risk of illegal crimes, including the crime of violating citizens' personal information and the crime of refusing to fulfill information network security management obligations.

If the reason for the seizure of Gongxinbao this time is true, then if it is compared with the previous remarks of the founder of Gongxinbao, it will inevitably appear to be a "slap in the face".

In previous public occasions, GXB CEO Huang Minqiang also pointed out the dangers of black market data transactions. He said that most of the data on the Internet is created by us personally. These data not only bring no value in the realization of traffic and data, but also make We fall victim to data. It also emphasizes the return of data ownership to the public, and users themselves become the masters of data.