• ITVI.USA
    11,449.500
    57.750
    0.5%
  • OTLT.USA
    3.516
    0.006
    0.2%
  • OTRI.USA
    20.080
    -0.100
    -0.5%
  • OTVI.USA
    11,429.630
    58.380
    0.5%
  • TSTOPVRPM.ATLPHL
    2.580
    -0.120
    -4.4%
  • TSTOPVRPM.CHIATL
    3.550
    0.030
    0.9%
  • TSTOPVRPM.DALLAX
    1.300
    0.010
    0.8%
  • TSTOPVRPM.LAXDAL
    3.710
    0.060
    1.6%
  • TSTOPVRPM.PHLCHI
    2.140
    -0.010
    -0.5%
  • TSTOPVRPM.LAXSEA
    4.100
    -0.100
    -2.4%
  • WAIT.USA
    136.000
    -3.000
    -2.2%
  • ITVI.USA
    11,449.500
    57.750
    0.5%
  • OTLT.USA
    3.516
    0.006
    0.2%
  • OTRI.USA
    20.080
    -0.100
    -0.5%
  • OTVI.USA
    11,429.630
    58.380
    0.5%
  • TSTOPVRPM.ATLPHL
    2.580
    -0.120
    -4.4%
  • TSTOPVRPM.CHIATL
    3.550
    0.030
    0.9%
  • TSTOPVRPM.DALLAX
    1.300
    0.010
    0.8%
  • TSTOPVRPM.LAXDAL
    3.710
    0.060
    1.6%
  • TSTOPVRPM.PHLCHI
    2.140
    -0.010
    -0.5%
  • TSTOPVRPM.LAXSEA
    4.100
    -0.100
    -2.4%
  • WAIT.USA
    136.000
    -3.000
    -2.2%
BusinessInternationalNewsTechnologyTop Stories

China targets Full Truck Alliance in cybersecurity probe

Regulators investigating freight platform’s apps

Cybersecurity regulators in China have initiated a review of two apps from digital freight-matching platform Full Truck Alliance (NYSE:YMM), halting new user registrations less than two weeks after the company went public in the U.S. 

The Cyberspace Administration of China announced the probe on Monday, saying its Cybersecurity Review Office will conduct the probe to “guard against” national security and data security risks. The government regulator is targeting FTA’s Yunmanman and Huochebang apps. 

FTA said the company — known as Manbang in China — is complying with the review and is halting the registration of new users in line with the government’s demands. The Yunmanman and Huochebang apps will continue to function normally for existing users, FTA said in a statement

“FTA will fully cooperate with CRO during the cybersecurity review process,” the company said. “FTA is conducting a comprehensive self-examination of any potential cybersecurity risks and will continue to improve its cybersecurity systems and technology capabilities. FTA hopes its full cooperation will assist CRO to complete its review process smoothly.”

The Cyberspace Administration of China did not explain why it was targeting FTA apps. The regulator is also reviewing Boss Zhipin, a job recruitment app from the company Kanzhun. 

The cybersecurity probes came after ride-hailing app Didi got banned from app stores in China. 

FTA, billed as an Uber freight of China, raised nearly $1.6 billion in its June IPO on the New York Stock Exchange. The company’s platform handled over $27 billion worth of transactions in 2020, according to FTA’s prospectus. 

Read more

Click for more FreightWaves articles by Nate Tabak

Nate Tabak, Border and North America Correspondent

Nate Tabak is a Toronto-based journalist and producer who covers cybersecurity and cross-border trucking and logistics for FreightWaves. He spent seven years reporting stories in the Balkans and Eastern Europe as a reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley, where he studied the history of American policing. Contact Nate at ntabak@freightwaves.com.

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