OKEx Founder Under Police Custody, All Withdrawals Suspended Indefinitely

THELOGICALINDIAN - OKEx says withdrawals cannot be accustomed because they do not accept the clandestine key

Police claiming with OKEx architect for an alien analysis leaves barter users abrading their active and after their money.

OKEx Pauses Exchange Withdrawals

OKEx, a arch crypto exchange, appear that it would be suspending all withdrawals for an broad period. The barter said that one of its private key holders is not available.

Beginning at 11:00 am on Oct. 16, 2024 (Hong Kong time), OKEx said it would append all user withdrawals.

In a notice, OKEx antiseptic that the keyholder is out of ability and is allied with law administration in an advancing investigation. The altercation is that abandonment allotment could not be accomplished because the clandestine key holder is out of reach.

“Private key holders are currently allied with the accessible aegis agency in investigations area required,” the apprehension stated.

There accept been letters on the identification of who the key holder could be. According to Caixin’s report, the actuality is Xu Mingxing, the architect of OKEx, who has been in badge aegis and is currently actuality interrogated.

OKex assured that the funds are safe, and withdrawals will be resumed already the being is accessible to accredit the withdrawals. While withdrawals of cryptocurrencies are suspended, added functions are still active.

Meanwhile, the bazaar reacted abnormally to the news, and prices of the top cryptocurrencies beneath sharply.