Major cryptocurrency exchange OKEx is finally resuming withdrawals of customer assets after weeks of waiting.
The exchange first suspended withdrawals on Oct. 16, a decision that subsequently rocked crypto markets.
According to today's announcement, full customer withdrawals will resume on or before Nov. 27.
OKEx will conduct security checks to resume hot wallet operations and ensure that user funds are safe.
OKEx claims that user funds are covered by 100% reserves and therefore "Can be withdrawn without any restrictions after withdrawals are reopened."
Resumed withdrawals will coincide with a user loyalty reward program as a way for the exchange to apologize for the extended freeze on user funds.
Today's announcement elaborates on why the exchange initially decided to freeze withdrawals, stating that one of its private keyholders "Has completed assisting the authorities in a previously referenced investigation."
As a result of their participation in the investigation, the individual was reportedly unable to authorize transactions within the exchange's hot wallet system.
Following the initial suspension, reports started circulating that OKEx founder Mingxing Xu was under investigation by Chinese authorities.
Just hours before OKEx suspended withdrawals on its platform, crypto transaction monitoring service Whale Alert reported a number of large transfers between OKEx and unknown wallet addresses: one transfer of 1,180 Bitcoin.
OKEx to resume withdrawals next week with promises of 100% reserves
Veröffentlicht auf Nov 19, 2020
by Cointele | Veröffentlicht auf Coinage
Coinage
Neueste Nachrichten
Alle ansehen
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.