Withdrawals on OKex remains suspended

In this post:

  • OKex users will still be unable to withdraw their funds
  • Says none of its top executives is currently under criminal detention 

OKex crypto exchange firm has revealed that withdrawals remain suspended on its platform. The firm at the same time made it known that it had at no point in time stop following the regulations guiding the industry.

The exchange had suspended withdrawals on its exchange platform when it became known that its founder, Star Xu, was arrested. The crypto firm also denied any claims that a party related to the firm was detained, the firm says that this is just rumors.

The crypto exchange firm first suspended withdrawals on its account on October 16. Following this announcement, OKex has had withdrawals suspended on its exchange for the best part of three weeks now.

Reports had emerged that Chinese authorities had arrested a top member of the executive. This led to the spread of the rumor that the executive arrested could access the private keys of a wallet. This, they believed, played a role in the suspension of withdrawals.

OKex denied that any of its executives was detained. It, however, said that the concerned party to the investigation was cooperating with a Public security bureau.

The firm went on to state that it had obtained legal support and guidance for the issue.

“We are law abiding” says OKex

OKex, through its released statement has maintained that the firm has always complied with the rules and regulations guiding the operations of an exchange within the country.

The firm also went on to state that the funds of its users were not being tampered with. It said that the funds would be available for withdrawal immediately when the firm lifts the suspension placed on withdrawals.

The firm did not release any new information on the investigation

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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