Twitter. Meanwhile, a similar announcement about Okex suggests that the parties involved in the investigation may have already been arrested, according to sources familiar with the matter. Soon after his exchange recommenced withdrawals after a six week lock up, OKEx CEO Jay Hao revealed during a … When asked, “What are your … ReddIt. OKEx Suspends All Withdrawals Indefinitely Bitcoin prices on the exchange plunged by 3 percent. Notably the announcement does not say whether this will result in withdrawals … Share this article. OKEx customers still cannot take out their funds after the cryptocurrency exchange suspended indefinitely its users’ ability to withdraw last Friday after a police investigation in China. — OKEx (@OKEx) October 16, 2020 However, the Malta-based exchange has said that the withdrawal function will be restored as soon as the prospect of private key management is established. Before this can happen, the crypto exchange says it will conduct strict security checks to ensure that its hot wallets remain uncompromised.. As reiterated on several occasions during this saga, OKEx assured customers that it still maintains 100% of its reserves with no run-ins occurring during the suspension imbroglio. The suspension of services immediately stirred a reaction in the Bitcoin price which plunged 3% while OKB took a 15% … 3:00 pm. The platform will also update its private key management processes and rewards scheme. […] Source: https://coindesk-news.com […]... Hi, this is a comment. OKEx’s troubles. on. Meanwhile, a spokesperson from the Malta-based crypto exchange has confirmed with CoinDesk that the date to resume its cryptocurrency withdrawal service … News; Withdrawals OKEx starts today. The expert said that the trading platform was on track to open cryptocurrency withdrawal, citing comments of OKEx's CEO Jay Hao on Weibo, known as the Chinese Twitter. By. OKEx, one of the three biggest exchanges serving Chinese retail investors, suspended withdrawals. BCH ABC tokens will be airdropped to users' Funding Accounts at a 1:1 ratio. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. Reading Time: 2min read Users of leading cryptocurrency spot and derivatives exchange, OKEx can now rejoice as the platform has announced the resumption of cryptocurrency withdrawals by Nov 27. Okex joined the list of exchanges that have halted withdrawals, as the cryptocurrency trading platform with more than 490 crypto trading pairs paused withdrawals on October 16, 2020. Tumblr. OKEx, one of the world’s largest cryptocurrency exchanges, is ready to unlock a cryptocurrency withdrawal functionality on November 27. The price of BTC plunged more than 2.5% on the news, before starting to recover. It is rumored, or rather, well known, that OKEx had to suspend its withdrawal feature for 42 days because one of its private key holders was under investigation by police. View Real-time price charts and historical ETH Line chart data. OKEx said Thursday it will resume withdrawal service as soon as this week, after founder Mingxing “Star” Xu was said to have been released from police custody in China. OKEx will open withdrawals early. Your email address will not be published. Discover the latest breaking news and updates of Ethereum (ETH) coin. Save my name, email, and website in this browser for the next time I comment. Issues with one of the exchange’s private key holders forced the cryptocurrency exchange to pause withdrawals for around five weeks in October. 1 week ago. Linkedin. OKEx started testing its withdrawal functionality before reopening. Leading Asian cryptocurrency exchange OKEx has caused a mild selling panic in the crypto markets after suddenly suspending its services to cooperate with an investigation. Popular crypto exchange firm, OKEx, announced earlier today that they would be lifting the withdrawal freeze it placed on its users next week. While all other operations of the exchange remained unaffected, withdrawals from OKEx were temporarily suspended on Oct. 16 to guarantee the safety of users' assets, which remains OKEx's … During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. “I think that the incident highlighted several very important points. Withdraw; Transfer; My Trading Fees; Start Demo Trading; Trade in Real Market; Buy/Sell; Market; Trade. Your email address will not be published. Share. OKEx users will be able to make withdrawals starting from 11:00 today, after more than a month. OKEx news OKEx withdrawal suspension OKEx scam Star Xu Arrest CCP. OKEx’s CEO has addressed concerns regarding the exchange’s recent suspension of withdrawals. Trading Exchange Okex’s Crypto Reserves Nosedived After Withdrawals Opened . The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. OKEx, likely trying to forestall a mass exodus of funds when its five-weeks-long freeze on withdrawals lifts this week, on Tuesday said it will offer a mix of compensation and rewards to users who’ve suffered because of the suspension.. The latest announcement means that users will be able to withdraw their crypto assets after the platform temporarily suspended the service on Oct 16. OKEx, one of the world's largest cryptocurrency exchanges, is ready to unlock a cryptocurrency withdrawal functionality on November 27. Bitcoin’s price has been up dramatically since the very day popular exchange OKEx announced the suspension of all crypto withdrawal service … Share. Issues with one of the exchange’s private key holders forced the cryptocurrency exchange to pause withdrawals for around five weeks in October. WhatsApp. Okex Halts Withdrawals Due to 'Out of Touch' Private Key Holder, Founder Star Xu Talks With Police . 10,000 Bitcoin (BTC) left OKEx 48 hrs before Withdrawals Were Suspended. Tumblr. When asked, “What are your … Jay Hao was apologetic to those impacted and thankful to users continuing to support OKEx. In a short blog post on Thursday, the exchange announced that it … The exchange managed to resume the service on Nov. 27, with OKEx saying the keyholder had been released and had not been involved in any wrongdoing or illegal activities. On Oct. 16, OKEx was forced to halt withdrawals due to one of the key holders being held by authorities and “cooperating” with an investigation. Bitcoin exchange OKEx has been reacting over the suspension of withdrawals since October 16. OKEx has explicitly said they cannot disclose any further information. China has been cracking down on OTC shops of late. Therefore, the exchange will resume unrestricted withdrawals on or before 27 November. OKEx, one of the major cryptocurrency exchanges, is opening withdrawals today after suspending it for more than a month due to Chinese … Ki Young … VALLETTA, Malta, Nov. 27, 2020 /PRNewswire/ -- OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, has restored … Tumblr. According to the team at Glassnode, there were two large outflows of Bitcoin from OKEx 48 hours before the crypto-verse was notified of suspended crypto withdrawals. When asked, “What are your thoughts on this incident, and how do you think OKEx should proceed from here to boost the crypto trading community’s confidence in the platform?”. P]eople can trade their BTC on OKEx despite the withdrawal suspension.” The Malta-based crypto exchange still remains the No. OKEx’s earlier decision to temporarily halt any form of withdrawal had started on October 16. OKEx CEO Jay Hao recently hosted an AMA via telegram for users who had any questions or concerns regarding OKEx’s 42-day suspension of its unrestricted withdrawal feature. According to the reports, the exchange’s funds were locked beginning November 16th as one of the ‘private-key holders’ was held to help Chinese authorities in investigations. Namrata Shukla. OKEx plans to prevent future withdrawal suspensions. Troubled China-based crypto exchange OKEx is set to resume its withdrawal services starting Friday after a successful withdrawal test by the exchange. Since then, the exchange seems to be … Please consider using a different web browser for better experience. Facebook. By. Basic Advanced. Spot. The news came after OKEx issued their first statement, reporting that their CEO and founder, Mingxing Xu (also known as “Star Xu”), was allegedly being held and questioned by Chinese authorities. OKEx now plans to begin the withdrawal process beginning from Nov 27. October 16, 2020. OKEx CEO Jay Hao confirmed the allegations we shared yesterday and … In the recent AMA, Hao reiterated previous apologies for the stress and uncertainty the sudden suspension caused. As news of withdrawal resumption spread amongst the … Share; Tweet; After a month of confusion and wariness, OKEx users have finally received the response they have waited for. Although the OKEx exchange chose not to say which of their private key holders was in custody for an investigation, it is no coincidence that Star Xu being taken into and released from custody aligned with OKEx suspending and reactivating withdrawals. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Facebook. At pixel time (12:11 PM UTC), OKB trades at USD 5.7 and is up by 14.5% in a day and 18% in a week. OKEx’s troubles. Twitter. OKEx, one of the three biggest exchanges serving Chinese retail investors, suspended withdrawals. Share. Margin Margin Increasing profit and risk by leverage. OKEX Suspends Withdrawals Causing a Bitcoin and OKB Token Price Plunge. UNTV News • November 27, 2020 • 68. OKEx first restricted all withdrawals on 16 October after losing touch with one of its private key holders. In the recent AMA, Hao reiterated previous apologies for the stress and uncertainty the sudden suspension caused. In a new update, they do say that they have sought legal support and guidance and by doing this has “made contact with the concerned party”. OKEx users can now breathe a sigh of relief as the exchange has announced that it will resume unrestricted withdrawals of Bitcoin and other cryptocurrencies, on or before November 27th. Share 0. China has been cracking down on OTC shops of late. Pinterest. Restoring its full range of services for all users . Jay Hao, CEO of Malta-based cryptocurrency exchange OKEx, said his firm has taken steps to ensure the issue that caused a freeze of over five weeks in cryptocurrency withdrawals cannot reoccur. News OKEx announces impending reopening of withdrawals. WhatsApp. In addition to bitcoin withdrawal, Whale Alert spotted a transfer of 198,467 OKB worth approximately 1,033,580 from OKEx to FXT. Required fields are marked *. Leading Asian cryptocurrency exchange OKEx has caused a mild selling panic in the crypto markets after suddenly suspending its services to cooperate with an investigation. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. The purpose of the chat was to connect with the OKEx community and address the platform’s recent pausing of withdrawals — which have since resumed. 0. OKEx to resume withdrawals after the temporary suspension Friday 20 November 2020 10:11 CET | News. Soon after his exchange recommenced withdrawals after a six week lock up, OKEx CEO Jay Hao revealed during a … Exchange officials now gave investors two important good news. PlusToken scam: Top operators jailed for up to 11 years, GASUTRADE: Most Secure Cryptocurrency Exchange | Top Bitcoin Buyer. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. By. OKEx CEO Jay Hao recently hosted an AMA via telegram for users who had any questions or concerns regarding OKEx’s 42-day suspension of its unrestricted withdrawal feature. All user funds remain safe and unaffected. Later that day, rumors began to circulate that the private key holder that was involved in the police investigation was OKEx’s founder, Xu ‘Star’ Mingxing. VALLETTA, Malta, Nov. 20, 2020 (GLOBE NEWSWIRE) -- OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce that withdrawal services of … Example: If you are Lv1 user, you have a 300 BTC equivalent withdrawal limit. If you withdraw 250 BTC, 25 BTC worth of OMG and 15 BTC worth of XUC, you will have 10 BTC remaining for your limit. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. Trading from crypto to crypto. According to the announcement, the exchange initially paused its withdrawal service due to “well-known reasons.” Indeed, BeInCrypto previously reported that Xu, who is reportedly one of the private key holders, was in police custody. Pinterest. Last Updated: 20 November 2020 Chinese cryptocurrency exchange OKEx is planning to restart withdrawals in Bitcoin. November 26, 2020. Bitcoin exchange OKEx has been reacting over the suspension of withdrawals since October 16. Withdrawals Withdrawals from OKEx are still temporarily paused. Arnab Shome | News (CryptoCurrency ) | Friday, 16/10/2020 | 08:29 GMT+2 2020-10-16T06:29:46+00:00 2020-10-16T08:35:23+00:00. 0. in Company News. The bitcoin exchange OKEx suspended cryptocurrency withdrawals on the platform Friday after its Chinese founder was taken away by police. The exchange reported that a "keyholder" had been detained by investigators. NEWS / Trading Exchange Okex’s Crypto Reserves Nosedived After Withdrawals Opened. By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy. OKEx will launch new compensation and reward programs to keep those users who intend to leave the exchange after the withdrawal service resumes. Published. OKEx resumes withdrawals of digital assets. Daniel Kucher - November 6, 2020. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal … DEX Trading testnet Decentralized exchange based on OKExChain. As all responsible employees are back to work, users will be able to withdraw their digital assets starting from November 27. The day that withdrawals stopped on OKEx, it was revealed that OKEx founder and private key holder Mingxing “Star” Xu was taken into police custody for an investigation that is allegedly unrelated to OKEx operations. This sparked discussions in the Chinese … OKEx users can now breathe a sigh of relief as the exchange has announced that it will resume unrestricted withdrawals of Bitcoin and other cryptocurrencies, November 19, 2020; Ethereum. It exposed some weaknesses in our internal processes, which we are now steadfast in correcting. Basic Advanced. WhatsApp. VALLETTA, Malta, Nov. 27, 2020 /PRNewswire/ — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, has restored its full range of services for its users by reopening withdrawals of all digital assets as of 8:00 am UTC, Nov. … News; OKEx: You Will Be Able To Withdraw Your Money. OKEx halted Bitcoin withdrawals on October 16 after its founder, Xu Mingxing was arrested by the police. Following our previously announced guidelines, this means we have adopted BCHN as the new BCH. See the full announcement for more details. 2020-12-6 03:00 am NEWS. Later that day, rumors began to circulate that the private key holder that was involved in the police investigation was OKEx’s founder, Xu ‘Star’ Mingxing. Basic Advanced. Twitter. What are the world’s best Bitcoin investors saying behind closed doors? OKEx CEO Jay Hao recently hosted an AMA via telegram for users who had any questions or concerns regarding OKEx’s 42-day suspension of its unrestricted withdrawal feature. In an ask-me-anything (AMA) session, a transcript of which was published on Wednesday, Hao said the incident led the exchange “to make several improvements in our internal processes.”. OKEx announced plans to resume crypto withdrawals via a statement on its customer support page published on Nov 19. Linkedin. See also: Despite New Incentives to Stay, Some of OKEx’s Chinese Users Are Determined to Leave. Photo: FM. Throughout the AMA, many questions that Hao answered started with some variation of the question, “what happened?” Hao refused to answer that portion of the question when he provided his answers–but he did it in a very professional way. (Pixabay, modified by CoinDesk) Muyao Shen. Users of leading cryptocurrency spot and derivatives exchange, OKEx can now rejoice as the platform has announced the resumption of cryptocurrency withdrawals by Nov 27. OKEx founder Xu Mingxing was taken at least a week ago and hasn’t appeared in a work-related social media group recently, according to a … OKEx to Restore Crypto Withdrawal Service on Its Platform by Nov 27. by Guest Author. Source: Pixabay. OKEx CEO Says Exchange Updating Procedures to Prevent Repeat of Withdrawal Freeze Issue Dec 2, 2020 at 2:37 p.m. UTC Updated Dec 2, 2020 at 2:54 p.m. UTC (Piotr Swat/Shutterstock) ReddIt. I think that the incident highlighted several very important points. OKEx, one of the top crypto spot and derivatives exchanges, has suspended all withdrawals indefinitely, citing it lost touch with one of its private key holders.. Related: OKEx to Resume Withdrawals Before Nov. 27, Offers New Compensation Programs “BTC’s price on OKEx is not that different from other exchanges,” he said. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. You may contact our customer service manager if you wish to increase the limit. 0. OKEx news OKEx withdrawal suspension OKEx scam Star Xu Arrest CCP. Ethereum. 2 mins ago. Kaitlyn Kubrick - November 26, 2020. VALLETTA, Malta, Nov. 20, 2020 (GLOBE NEWSWIRE) -- OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce that withdrawal services of all digital assets will be resumed on or before Nov. 27. The CEO stressed that user funds had never been in jeopardy and that OKEx maintains backups of the crypto private keys. November 19, 2020 | AtoZ Markets – OKEx users can be happy as the Chinese company confirmed today, November 19, the resumption of withdrawals after being frozen for almost a month. By. He didn’t explain why they couldn’t be used in this incident, however. He further apologized to customers for the uncertainty, inconvenience and stress caused by the event. ReddIt . OKEX Suspends Withdrawals Causing a Bitcoin and OKB Token Price Plunge. Since then, it generated loads of panic among its users. Bitcoin and crypto exchange OKEx has confirmed that it will reopen withdrawals that were suspended due to the arrest of the exchange founder Star Xu. When asked, “What are your […] October 16, 2020. On October 16th, OKEx unexpectedly announced that they were suspending withdrawals because one of its private key holders was involved in a police investigation. As a security measure to safeguard users' funds, withdrawals from the exchange were temporarily suspended on 16 October 2020, with all other fun ctions on the platform remaining unaffected, according to the official press release. Jay Hao recently hosted an ‘Ask Me Anything’ session to address user concerns regarding OKEx’s suspension of withdrawals. 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In a statement to CoinDesk by an OKEx spokesperson, it was confirmed that transactions will open before November 27th. OKEx CEO Jay Hao recently hosted an AMA via telegram for users who had any questions or concerns regarding OKEx’s 42-day suspension of its unrestricted withdrawal feature. Perpetual Perpetual Easy to trade, max 100x leverage. OKEx CEO, who made a statement on November 19, stated that the problem was resolved and that withdrawals will be opened as of November 27. The market volatility may increase once users get access to their funds. Although a clear … The day that OKEx announced that withdrawals would reopen, it was revealed that Star Xu had been released from police custody. As BeInCrypto reported previously, the major exchange had halted user withdrawals on Oct. 16. On October 16th, OKEx unexpectedly announced that they were suspending withdrawals because one of its private key holders was involved in a police investigation. The exchange reported that a "keyholder" had been detained by investigators. As AtoZ Markets reported, crypto withdrawal was suspended to platform users on October 16. Several news sources in China … StanChart CEO: Mass Adoption of Digital Currencies is Absolutely Inevitable, Grayscale Sees a New Group of Ethereum-First Investors, How Bitcoin’s active supply hit both an ATH and an ATL, Ukraine passes draft digital currency bill at first stage, Will Ripple Hit $30 In 2021: Price Prediction & Discussion, MicroStrategy Adds Additional 2574 Bitcoins To its BTC Portfolio for $50 Million, Coinbase plans to Support Spark Token Airdrop to XRP Holders. The price of BTC plunged more than 2.5% on the news, before starting to recover. News; OKEx: You Will Be Able To Withdraw Your Money. “We apologize for any and all inconveniences, and we will strive to improve internal processes as soon as possible to prevent similar situations from happening in the future,” OKEx went on to say in an official announcement. Malta-based cryptocurrency exchange OKEx has reopened withdrawals five weeks after an abrupt suspension. OKEx … The trading platform users had to wait over a … It exposed some weaknesses in our internal processes, which we are now steadfast in correcting,” he said. User assets remained trapped on the platform until it reinstated withdrawals on Nov. 26. An OKEx representative told Coindesk that the digital currency withdrawal service will start again prior to the Nov. 27 Hong Kong Standard Time date as noted in … Facebook. In the AMA, Hao acknowledged the issue was harmful for the company and that trading has dropped as a result. However, it also highlighted the strength of our infrastructure and security — in that we were able to safeguard all user assets, as well as continue to maintain operations on all other functions of the exchange. OKEx – one of the largest cryptocurrency exchanges in … Cryptocurrency exchange OKEx shared an update today stating that it has now hired an “external legal counsel” to help resume withdrawals it halted on 16 October, which had left many traders frustrated. Daniel Kucher - November 6, 2020. Linkedin. Data from CryptoQuant shows OKEx has been testing reopening its withdrawal system, as 0.02 BTC was moved out from an OKEx wallet. OKB, the native token of OKEx, rallied earlier today on unsourced reports that withdrawals might be resumed soon. OKEx explained in a previous blog post that one of the platform’s private key holders had been assisting Chinese authorities in an investigation. Derivatives. Just recently, after the exchange paused cryptocurrency withdrawals, the trading platform Okex finally enabled digital currency withdrawals last Wednesday. In an official statement published on Friday morning, the exchange detailed that it has suspended all withdrawals since 11 am (Hong Kong time) on October 16. On Nov. 26, OKEx CEO Jay Hao joined a live Ask Me Anything session on the official OKEx Telegram channel and answered questions asked by some of its 27,000+ members. According to the statement made by OKEx CEO Jay Hao on social media, exchange users will be able to start withdrawing money from November 27 without any problems. The team at the exchange will first conduct strict security checks before resuming normal operations. The data from Glassnode shows that 10,000 BTC left the exchange and has been visualized through a chart in the tweet below. The firm stopped withdrawals in … Pinterest. Spot Spot. The company explained that the private key holder was cooperating with relevant authorities for the required investigation. OKEx is set to lift its withdrawal freeze first introduced on October 15, claims the exchange cooperated with authorities, and no foul play was discovered.
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