OKEx Crypto Exchange temporarily halts withdrawals of Cryptocurrencies / Digital Assets

OKEx Crypto Exchange

On 15th October 2020, OKEx cryptocurrency exchange temporarily suspended withdrawals of Digital assets/Cryptocurrencies from its exchange.

Reportedly one of the private key holders from OKEx crypto exchange is not reachable and currently cooperating with a public security bureau in investigations, notes the announcement.

Major Opinion

OKEx in their official announcement said, "One of our private key holders is currently cooperating with a public security bureau in investigations where required.   We have been out of touch with the concerned private key holder.  As such, the associated authorization could not be completed.  Pursuant to 8.1 Service Change and Interruption of the Terms of Service, OKEx may change the Service and/or may also interrupt, suspend or terminate the service at any time with or without prior notice."

More on OKEx' Crypto Development

OKEx exchange also mentioned that the suspension of cryptocurrencies' withdrawal is in the best interest of their customers. Also, On 17th October 2020, the cryptocurrency exchange noted that the security of digital assets at OEKx is not affected.

In a tweet, OKEx CEO said, "All your funds and assets are safe. The investigation concerns a certain private key holder’s personal issue only."

PC: Pixabay

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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