OKEx Plans To Reopen Unrestricted Withdrawals By Nov 27th

  • Over a month after suspending deposits and withdrawals from its platform, the popular cryptocurrency exchange OKEx has announced plans to reinstate those services by November 27th.
  • CryptoPotato reported in mid-October that OKEx co-founder Xu Mingxing had been taken away by police officers and was still missing. 
  • The exchange halted withdrawals and deposits, claiming that a key person has been assisting authorities with an investigation. Company CEO Jay Hao didn’t name the person but reassured that all funds are safe. 
  • The Malta-based cryptocurrency exchange published a statement earlier today informing that this investigation has been completed. OKEx outlined that the outcome has confirmed that the company has not “been involved in any wrongdoing or illegal activities.”
  • The unnamed “private key holder” has also returned to his “normal business functions.” Consequently, OKEx has decided to reopen unrestricted withdrawals by November 27th after conducting strict security checks to resume normal operations of the hot wallet system and ensure the safety of all user funds.
  • “Because OKEx has insisted on maintaining 100% reserves since its establishment, 100% of user funds can be withdrawn without any restrictions after withdrawals are reopened.” 

  • Additionally, the exchange will launch user loyalty reward campaigns to “express our deep apologies and most sincere gratitude to our community.”
  • It’s worth noting that OKEx’s native cryptocurrency is among the best performers today, with a 16% price surge after the initial reports emerged. 


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