OKEx’s suspension of withdrawals has been one of the crypto world’s most unusual exchange failures. Since its announcement on October 16th that the exchange was stopping withdrawals because “one of our private key holders is currently cooperating with a public security bureau in investigations where required.”
OKEX founder Star Xu
Today, in the lasted announcement, OKEX said the exchange apologizes for the inconvenience caused by the suspension of cryptocurrency withdrawals and the users will just have to be patient, don’t be FUD.
Read full announced:
We sincerely apologize for the inconvenience caused by the suspension of digital asset/cryptocurrency withdrawals on OKEx as of Oct. 16. During this time, we have been working diligently to resolve all matters related to the suspension. We give the highest priority to users’ feedback and concerns. We would like to inform our valued users about the progress and status of the matter as follows:
(1) The claim that the concerned party of OKEx is under criminal detention has been confirmed as a rumor. Currently, the concerned party is, as stipulated by the law, actively cooperating with the public security bureau in the investigation.
(2) OKEx has sought legal support and guidance, and through this process, has already made contact with the concerned party.
At this time, unfortunately, OKEx is unable to disclose further information, as the content of the investigation is confidential.
We apologize for this and will promptly update our users with new information regarding the status of withdrawal resumption.
OKEx would like to reinstate that:
1. OKEx has always respected, honored and had faith in the law in its operations and has welcomed regulations.
2. All user funds on the OKEx platform remain safe and unaffected. There has been no asset outflow of any form from OKEx since the suspension of withdrawals. At the same time, we can assure our users that 100% of their funds can be withdrawn after withdrawals have been resumed on OKEx. Currently, our teams are stable, business operations are as usual, and the financial situation is also good. OKEx will work around the clock to ensure that the platform returns to full functionality as soon as possible.
3. We would like to express our deepest gratitude to partners and users for your unwavering support and encouragement.
The reality is that anybody who is prepared to pass the custody of their crypto into the hands of a Chinese exchange needs to understand that the Chinese Communist Party can step in at any time – particularly if key personnel like Xu continue to live and work within China’s borders.
OKEx users hoping to withdraw their crypto assets will just have to be patient.
- OKEx P2P Platform Will Resume Trading On October 21 For CNY, INR And VND
- Okex Denies Rumors That The Investigation Relating To Star Xu Involved A Money-Laundering Investigation
- OKEx Has Suspended Withdrawals, Market Volatile But UNI Price Still Up By Almost 15%
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