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OKEx users express frustration over suspended withdrawals

OKEx users express frustration over suspended withdrawals

Main trade OKEx suspended crypto withdrawals on Oct. 16. With little data coming from the agency or its CEO Jay Hao within the time since, customers have begun demanding solutions through Twitter.

In an Oct. 20 tweet from Hao, the CEO said that there had been “no on-chain out-flow” for the reason that trade introduced it had “quickly suspended” withdrawals on Friday.

“Your belongings are secure,” mentioned Hao. “We’ll do our greatest to renew withdrawals ASAP.”

The trade reported on Oct. 16 that it had suspended cryptocurrency withdrawals as a result of certainly one of its non-public key holders was “cooperating with a public safety bureau” relating to an ongoing investigation. On the time, OKEx mentioned that it deliberate to renew withdrawals “instantly”, as soon as it was in a position to authorize such transactions with the important thing holder.

Studies point out that the police additionally introduced the trade’s founder Star Xu in for questioning per week previous to the announcement. This has left OKEx customers expressing their rising frustration:

“It’s kind of bizarre one of many largest exchanges on this planet is not letting us withdraw cash for thus lengthy” mentioned crypto Twitter consumer Jojo.

Many customers complained concerning the lack of transparency in comparison with that of different exchanges: 

“The place is your CEO Jay Hao? He has to work together and provides up to date information often. When one thing occurs with Binance, CZ tweets each hour.”

“With billions locked up and the fame of the trade at stake, what’s the reasoning for not offering extra transparency?” requested consumer Douggie Clarke. “For instance, detailing how the important thing state of affairs occurred.”

Others implied they had been leaving the trade completely — presumably, as soon as they regain entry to their funds.

Cointelegraph reached out to OKEx for remark, however representatives didn’t reply in time for publication.


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