Just days after Chinese ride-hailing company Didi's $4 billion market debut in June, the Chinese government removed it from app stores and accused the company of violating data security rules.

Myles Udland, Brian Sozzi, and Julie Hyman break down the latest with Didi, which took another blow when China removed Didi for new users on WeChat and Alipay.

For its part, DiDi confirmed in a statement cited by Reuters that it stopped registering new users and would remove its application from the app stores .

Didi shares plunged almost 20% Tuesday in New York as fallout continued over news of the company's troubles in China.

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