A blockchain-themed conference in Shanghai was abruptly suspended by police on Thursday.
The one-day event, dubbed the Global Fintech & Blockchain China Summit 2018 and organized by a business conference organizer called PTP International, was originally scheduled for April 12.
Yet around midday (local time) on Thursday, the morning session was halted by police, and all attendees and organizers of the event were removed from the venue. The afternoon session of the event was also cancelled.
According to the summit’s website, the event was to feature keynote speeches, panel discussions and exhibits from financial institutions, government and cryptocurrency projects.
While the official reasons that led to the cancelation have not been released, rumors have emerged online and on social media site Weibo that investors had reported the event to the police because an initial coin offering (ICO) project that they had invested in, and allegedly lost large sums of money with, was present.
However, in a media statement addressing the issue, the event organizer denied the rumor and stated that the conference is complying with Chinese laws:
PTP International stated:
“We are still investigating the reasons of the halt, and so far the explanation offered by the police is due to security risk. We are working on a solution regarding how to make up for event attendees. The conference is in compliance with the regulation in China and does not feature any ICO roadshow.”
In a response to a request for information from CoinDesk, a media representative from the firm said an update on the investigation is expected by noon (Shanghai time) on Friday.