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okex internal withdrawal

However, Okex says all services except withdrawals are operating normally, and … If you continue to use this site we will assume that you are happy with it. Please use the IP address outside mainland China to access the API of OKEx. © 2020 The Block Crypto, Inc. All Rights Reserved. Withdrawals Frozen on OKEx. * * * We do not automatically endorse the news we re-publish! 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. We use cookies to ensure that we give you the best experience on our website. *** Nothing stated on this website constitutes investment advice *** We are not responsible for the content on URLs we link to *** We cannot check all news and commentary for accuracy and thus are not responsible for any direct or indirect damage caused by misinformation ***. ‘Enormous wall of money’ will send Bitcoin to $1M in 2025 — Raoul Pal, Litecoin, Algorand, DASH Price Analysis: 16 October, Aave, Maker, DigiByte Price Analysis: 13 March, XRP, Bitcoin SV, Elrond Price Analysis: 13 March, Stellar Lumens, FTX Token, Decred Price Analysis: 13 March, NFT special! On 16 October, OKEx suspended withdrawals on its highly popular exchange platform, creating huge media waves as speculators wondered if the exchange was being shut down, or was becoming insolvent. See the future of trading at Loopring. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. You can find the source link at the bottom of each article - and keep in mind the content is republished as is, we do not verify any information or data given by the news sources. Coin Vigilance - Bitcoin news that matter, guides and reviews, Earlier today, cryptocurrency exchange OKEx halted withdrawals indefinitely as one of its private key holders “is currently cooperating with a public security bureau in investigations.”. OKEx CEO Jay Hao told The Block that the decision to “temporarily pause withdrawals was taken with user security in mind.” According to tracker Glassnode, around 200,000 bitcoins, or 1.1% of the total circulating bitcoin supply (worth about $2.3 billion), are currently stuck in OKEx wallets. 2 December 2020. Coins (1917) Exchanges (55) L2 is here: the self-custody and no KYC of a DEX, instant and cheap trades like a CEX. 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. The lawsuit alleged that YouTube had “feigned ignorance” as XRP scams defrauded millions of dollars on the video sharing platform. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. What Bitcoin’s price recovery means for its future, https://www.theblockcrypto.com/post/81406/crypto-exchange-okex-withdrawal-issues-investigation?utm_source=rss&utm_medium=rss. On October 16th, OKEx unexpectedly announced that they were suspending withdrawals because one of its private key holders was involved in a police investigation. We are the leader among cryptocurrency exchanges, with daily trading volume and open interest of Bitcoin futures reaching $1.65 billion and $1.1 billion, respectively. Chinese media group Caixin, citing “two sources close to OKEx,” reported that OKEx founder Star Xu is the one who “cooperated with public security investigations.”, One of the two sources told Caixin that Xu was detained by police “at least a week ago and had not appeared in the workgroup for many days.”. In this week’s CoinGeek Pulse episode, we heard about Blockchain Nation Switzerland and some great news on two exciting updates within the Bitcoin SV ecosystem. Median. It exposed some weaknesses in our internal processes, which we are now steadfast in correcting. Earlier today, cryptocurrency exchange OKEx halted withdrawals indefinitely as one of its private key holders “is currently cooperating with a public security bureau in investigations.” OKEx said it has been “out of touch” with the concerned private key holder, without disclosing since when and by when it could resume withdrawals. OKEx says withdrawal issues are ‘temporary,’ can’t disclose ‘the nature of an ongoing investigation’ written by Yogita Khatri @ https://www.theblockcrypto.com/post/81406/crypto-exchange-okex-withdrawal-issues-investigation?utm_source=rss&utm_medium=rss October 16, 2020 Yogita Khatri. 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. When reached for comments, an OKEx spokesperson told The Block that the withdrawal issues are “temporary” and that the exchange cannot disclose “the nature of an ongoing investigation.”, “We are unable to disclose the nature of an ongoing investigation but would like to assure all OKEx users that their funds are safe and that all other functions on OKEx are unaffected,” the spokesperson said. OKEx freezes withdrawals indefinitely on Friday, October 16 It was this past Friday when one of the most well-known exchanges, OKEx, suspended withdrawals – followed by an announcement stating that one of the holders of the clients’ private keys was “cooperating with a public security bureau” in regards to an ongoing investigation. “A spokesperson for Okex said Cryptoquant’s data did not match the firm’s internal records, but Okex has yet to provide their own figures,” Muyao Shen said on Thursday. Assuming that OKex’s withdrawal issues are caused by the detention of a keyholder, the risk is dependent on the release of the said person and the access to the equipment needed to enter the key. We value honest perspective, speed and resilience. Withdrawal Fees. OKEx offers investors a variety of options for depositing and withdrawing their cryptocurrency assets from the exchange. Trading Bitcoin options is less risky than futures but mind the premium! “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. Finally, regarding deposit fees, OKEx is a no-fiat exchange and does not charge anything for funding the account with cryptos as well. OKEx froze withdrawals on Oct 16 amid controversy that the exchange had been under investigation from law enforcement. The OKEx spokesperson told The Block that the exchange is “not connected with Star Xu in any ways.”. Nearly everything published in three categories - Bitcoin News, Ethereum News, and Cryptocurrency News - is taken by News Bot from other news sites. 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. 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. OKEx offers REST and WebSocket APIs. OKEx CEO answers users’ questions about the recent withdrawal pause was originally published in OKEx Blog on Medium, where people are continuing the … The Central Bank of Nigeria announced its “Naira 4 Dollar Scheme” recently, targeting diaspora remittances. OKEx’s troubles. $12.81. I think that the incident highlighted several very important points. OKEx customers run their own shop. On Oct. 21, the Tron Foundation announced that it would facilitate an “internal transfer” option at a 1:1 ratio for all TRX holders directly affected by the withdrawal freeze. Coins. In the OKEX Token Withdraw page click on the Internal Funds Transfer. This article is provided for informational purposes only. 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.Â. Follow. Coin Withdrawal Fee Best in Market Market Average OKEx, one of the world's largest cryptocurrency exchanges, is ready to unlock a cryptocurrency withdrawal functionality on November 27. Like what we do but hate ads? As there is no direct interface for P2P bids and asks, users have also taken their quotes outside of the exchange, to other communication channels. OKEx withdrawals begin OKEx observed net crypto withdrawals worth more than USD100 million within hours after it reopened withdrawals from users at 08:00 (UTC) on November 26th. The Tron Foundation has published an update on a decision it took yesterday to enable Tron ( TRX ) holders to withdraw their tokens from the OKEx … Step 2: Select a currency to withdraw Select the currency you wish to withdraw from your OKEx account. Local reports in China had also reported that … 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?”Â. 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. Home » Business » OKEx plans to prevent future withdrawal suspensions, Business 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. REST support market data, trading, and withdrawals and WebSocket support market data. OKEx is a world-leading cryptocurrency and Bitcoin exchange that provides hundreds of trading pairs for spot and derivatives. OKEx’s Withdrawal Suspension Isn’t Behind Bitcoin’s Rally: Analysts Bitcoin’s price has been up dramatically since the very day popular exchange OKEx announced the suspension of … Hao went on to highlight that except for withdrawals, all of OKEx’s other services such as deposits, spot trading, derivatives and staking remain unaffected. 3. OKEx suspends withdrawal but funds are safe OKEx mentioned that with this measure, the service can be stopped or stopped at any time without prior notice based on “Service Articles of Incorporation 8.1”. If he can’t authorize it, it will affect various fees and the authorization of withdrawals,” the source claimed. Average. Login to your OKEx account then hover your mouse in your Account and select Withdraw. Search. Another Chinese news outlet BlockBeats reported that Xu “might [have] move[d] some money to HK [Hong Kong] through illegal private bank… when he purchased the listed company personally.”, Last year, Xu bought a controlling stake in LEAP Holdings — a construction engineering firm listed on the Hong Kong Stock Exchange — for around $60 million. The day that OKEx announced that withdrawals would reopen, it was revealed that Star Xu had been released from police custody. 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.Â, 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. being taken into and released from custody aligned with OKEx suspending and reactivating withdrawals. New internal transfers complement existing 1:1 withdrawals Chinese investigations into the OKEx exchange continue Tron Foundation, one of the largest global blockchain-based operating systems, has updated its 20 th October decision to allow manual internal transfers of Tron (TRX) tokens from the OKEx exchange (OK- TRX ! Here’s Why OKEx’s Halting Withdrawal Episode Won’t Haunt Bitcoin Trouble appeared to be brewing for the well-known cryptocurrency exchange OKEx after one of its founders was held by police. “OKEx is a separate entity from OK Group and, as such, we are not in a position to comment on any actions or activities related to Star Xu,” the spokesperson added. Coin Vigilance is an opinionated magazine always on the lookout for cryptocurrency and blockchain tech news. Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain. What Does OKEx Withdrawal Halt Mean For Users? The Tron Foundation has taken the decision to provide an “internal transfer” option for TRX holders affected by the OKEx withdrawal freeze. New to Bitcoin? Despite the availability of this system, some OKEx users have worked out alternatives to get their funds out of the platform for as long as withdrawals are suspended. Xu’s Weibo (a Chinese microblogging website) account also appears to have been taken down. “We will do everything in our power to reinstate this service promptly and will provide updates on the matter as soon as possible,” said Hao, adding that “all other activities — including deposits, spot trading, derivatives, staking, etc. Our affiliate relationships with the sites do not affect our review scores, our opinions remain genuine. The trading pl We have estimated and built a timeline below as to the possible paths on the detention of this person. Nov 5, ... Withdrawal process , around 200,000 bitcoins, or 1.1% of the total circulating bitcoin supply (worth about $2.3 billion), are currently stuck in OKEx wallets. However, we feel that it is necessary in order to maintain our high standard of security for users’ funds on OKEx.”. OKEx. Tron Foundation has announced the termination of 1:1 withdrawals on OKEx. Beeple’s millions, Banksy profits, problems for Kings of Leon: Hodler’s…, Litecoin, Waves, Compound Price Analysis: 13 March, Tezos, Cosmos, Algorand Price Analysis: 13 March. It is strongly recommended to … OKEx said it has been “out of touch” with the concerned private key holder, without disclosing since when and by when it could resume withdrawals. 2. Website 🔗 okex.com. When asked if the investigation is related to this matter, the OKEx spokesperson told The Block: “This is completely unrelated to OKEx and its exchange business.”.

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