• OKEx exchange announced Thursday that withdrawals would be resumed by Friday next week.
  • This comes shortly after the rumored release of the exchange’s founder.

For weeks now, OKEx exchange customers have been unable to withdraw their funds from the cryptocurrency exchange. However, after a long wait, the Malta-based digital currency exchange, OKEx, has finally disclosed that crypto-assets withdrawal will be resumed next week. This is becoming a day after a rumor surfaced that the founder of the exchange had been released from custody by the Chinese authorities.

OKEx exchange is resuming withdrawal services

Earlier today, the cryptocurrency exchange published a blog post addressing the whole issues going on with their services. OKEx exchange assured that its normal crypto assets withdrawal would resume on Friday next week (i.e., November 27). Before the service resumes, the exchange planned to strictly inspect its systems to ensure users’ assets will be safe once the hot wallet operations begin.

OKEx exchange precisely paused the service on October 16, saying that one of the persons holding the exchange’s private key to authorize the withdrawal was “out of reach.” Reports claimed that the missing staffer could be the founder of the exchange, Star Mingxing Xu, who was reportedly being investigated by the Chinese authorities. The native digital currency of OKEx, OKB, dropped sharply amid the development. 

During these times, the exchange sought other viable alternatives for users to interact with their assets.

Withdrawal sets to resume shortly after rumor

The announcement today is perhaps a thrilling one for the exchange users, who have been crashing their heads over the safety of their cryptocurrencies. Noteworthily, the news comes soon after rumor claimed that the detained founder had been released by the Chinese authorities. In the report, the exchange somewhat issued a confirmatory statement that reads:

“The problem has been resolved, and the relevant personnel have returned to work.”

This post was last modified on January 7, 2021 7:02 am