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China Cracksdown on DiDi, Launches Cybersecurity Probe Into Ride-Hailing Giant

Days after shares in China's largest ride-hailing app started trading on the New York Stock Exchange, Beijing announced regulators would investigate the company over its data security practices. The crackdown has resulted in DiDi's apps being removed from WeChat and AliPay. Reportedly, regulators are weighing "unprecedented penalties" against DiDi for its IPO. The company faces a shareholder lawsuit in the U.S. as a result of the review.

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China Cracksdown on DiDi, Launches Cybersecurity Probe Into Ride-Hailing Giant

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