BUSINESS

Exclusive: OKEx Suspends Cryptocurrency Withdrawals

By Hu Yue and Denise Jia

Published: Oct. 17, 2020 3:39 a.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

OKEx ranks 11th among cryptocurrency exchanges by trading volume according to CoinMarketCap.

OKEx ranks 11th among cryptocurrency exchanges by trading volume according to CoinMarketCap.

The Bitcoin exchange OKEx suspended cryptocurrency withdrawals on its platform on Friday as its Chinese founder faces policy inquiries “in cooperation with an investigation.”

OKEx founder Xu Mingxing was taken at least a week ago and hasn’t appeared in a work-related social media group recently, according to a person close to the company. It’s not clear what the investigation is about.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

GALLERY

: Gallery: Innovation Takes Off at Flying Vehicle Expo

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: How China’s Crypto Ban Makes Disposing of Seized Assets a Lot Harder

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: China’s Factory Exodus Is Turning Vietnam Into the World’s Assembler

2: Meituan Enters Open-Source AI Race With LongCat Model

3: Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million

4: Alipay Fined by Luxembourg Regulator for Anti-Money Laundering Breaches

5: End of U.S. Tax Exemption Hits Chinese Air Cargo Carriers Differently

SPONSORED

OR