Popular OKEx exchange shakes the crypto ecosystem as it suspends cryptocurrency withdrawal due to probe on its major partner.
Popular cryptocurrency exchange, OKex decided to stop crypto withdrawal because of an ongoing investigation with one of the custodian of its private keys.
Major Updates
- The major digital asset exchange has made the decision to stop crypto withdrawal for now stating that a key custodian is answering to an investigation.
- OKex stated that there has been no contact with the private key-holder, which is blocking the completion of associated authorization.
- The exchange plans to resume crypto withdrawal, once the custodian can approve transactions.
- They stated that clients’ assets are safe despite blocking withdrawals.
- Due to the news and actions of OKex, BTC has dropped to about 3%
- The action also affected the exchange's token OKB as it also witnessed a dip to about 15%.
Before the decision to block crypto withdrawal was made official, Whale alert, a transaction monitoring service indicated different huge transactions between OKex and some wallets.According to a Beijing reporter, the investigation causing the delay might be due to money laundering. However, the information is not verified at the moment.
Source: Cointelegraph.
