Benzinga | Sep 29, 2021 05:17PM EDT

WeChat Blocks China Evergrande Message Groups: Reuters

* Tencent Holdings Ltd's (OTC:TCEHY) WeChat has blocked some instant messaging groups used by China's Evergrande Property (OTC:EVGPF) debtors to organize protests and discuss claims, Reuters reports.

* Interestingly, some WeChat users complained on Weibo Corp (NASDAQ:WB) that WeChat had blocked their Evergrande-related groups.

* WeChat barred eight users across at least eight different groups, around 200 to 500 people from September 28.

* The Evergrande crisis weighed down under $305 billion in debt and, amid a cash crunch, poses a challenge for the government and could trigger unrest by local investors, suppliers, and homebuyers.

* Angry home buyers and retail investors launched protests in several cities, including WeChat, to voice their grievances.

* Price Action: TCEHY shares closed lower by 1.19% at $58.30 on Wednesday.

* Photo by Tumisu from Pixabay