OKEx Founder Mingxing Xu Reportedly Questioned By Authorities Previous To Its Suspending Cryptocurrency Withdrawals
OKEx Founder Mingxing Xu Reportedly Questioned By Authorities Previous To Its Suspending Cryptocurrency Withdrawals
October 17, 2020
OKEx Founder Mingxing Xu Reportedly Questioned By Authorities Previous To Its Suspending Cryptocurrency Withdrawals
OKEx Founder Mingxing Xu Reportedly Questioned By Authorities Previous To Its Suspending Cryptocurrency Withdrawals
October 17, 2020

Mingxing Xu, also known as Star Xu, the founder of OKEx, has been reportedly questioned by authorities previous to OKEx suspending cryptocurrency withdrawals.

It has been reported that he was investigated “at least a week ago” and has also been absent from work for some time.

However, when approached for comment on Xu’s participation in a police inquiry, OKEx said that the exchange is no longer affiliated with OK Group, where Xu is a senior executive, and therefore was not in a position to comment on his activities. 

The news comes shortly after OKEx suspended withdrawals of crypto assets on its platform yesterday. According to the exchange, OKEx’s private key holders are cooperating with a public security bureau in an ongoing investigation.

The exchange stated:

“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.”

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

ALSO READ :  Binance CEO Changpeng Zhao Overtakes Bitmain Co-Founder Micree Ketuan Zhan In New Hurun Rich List

Thus, he added:

“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.”

Source: Cointelegraph


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!