OKEx suspends withdrawals of customers, founder brought under investigation

The founder of major global cryptocurrency exchange OKEx has been allegedly addressed by specialists past to OKEx suspending cryptocurrency withdrawals.

OKEx founder Mingxing Xu, otherwise called Star Xu, has allegedly been addressed by the police, Chinese news agency Caixin reported today. As per the report, the chief was examined “at least a week ago” and has also been absent from work for some time.

When drawn closer for input on Xu’s interest in a police request, OKEx revealed that the trade is not, at this point subsidiary with OK Group, where Xu is a senior executive, and therefore was not in a position to comment on his activities.

The news comes soon after OKEx suspended withdrawals of crypto resources on its foundation today. As per the trade, OKEx’s private key holders are helping out a public security agency in an ongoing investigation. The trade told that:

“We are unable to disclose the nature of an ongoing investigation but would like to assure all OKEx users that their funds are safe and that all other functions on OKEx are unaffected.”

OKEx CEO Jay Hao said that the decision to temporarily suspend withdrawals was taken “with user security in mind,” stating:

“As a world-leading exchange, user security is not something that OKEx can or will ever compromise on. We will do everything in our power to reinstate this service promptly and will provide updates on the matter as soon as possible.”