Didi went public on June 30, 2021, valued at $68 billion. Two days later, on the evening of July 2, the Cyberspace Administration of China, the country's internet regulator, announced that it was reviewing Didi's cybersecurity. On Chinese social media, rumors spread alleging that Didi had sold sensitive user information and traffic data to the US, creating a national security risk. Didi's management denied the accusations. On July 4, the regulator made an announcement claiming Didi had illegally collected and used riders' personal data, and ordered app stores to remove the app. A year later, the Cyberspace Administration decided that the company had violated three laws governing network security, data security, and the protection of personal information—all of which had come into effect only after the ban was announced.