‘Only in Crypto’: What the OKEx Mess Says About New and Old Finance
On Friday morning as the OKEx withdrawal-freeze story twisted and turned, CoinDesk's editors had an off-the-cuff discussion about the fundamental realities and unique challenges of security for even the largest exchanges.
Bitcoin faced some intense selling pressure yesterday evening after news broke regarding the founder of OKEx being arrested by the Chinese authorities This is simply another set of news that has rocked the crypto market, but its impacts on Bitcoin’s price action has been surprisingly muted It does not appear that investors aren’t too concerned that the prospect of OKEx users losing their BTC will strike a blow to the crypto’s technical outlook Some analysts […]
The leading crypto exchange, OKEx has announced the listing of two more tokens on its spot trading platform. Users on the platform can now start trading and also withdraw Flamingo (FLM) and Rio Fuel (RFUEL) tokens, which were earlier part of the OKEx Jumpstart Mining program. Apart from the listing, OKEx has also announced a […]
After a number of issues, OKEx is back up to speed, sort of. Crypto exchange OKEx announced that both its fiat-crypto purchase capabilities and P2P outlet have reopened. Withdrawals still remain closed, however."The OKEx P2P platform will resume trading on Oct. 21, 12:00 pm (UTC) for CNY, INR and VND fiat pairs, and the Buy Crypto fiat gateway will also be reactivated at the same time," OKEx said in an Oct. 21 announcement, adding: "Please note that cryptocurrency withdrawals are still temporarily suspended and the 'Sell Crypto' option is not available."The exchange noted that "other....
Earlier this week, it was revealed that OKEx had frozen all crypto withdrawals from its platform over concerns about a private key holder. OKEx is a leading crypto-asset exchange that processes a material percentage of the spot and futures volume in the industry. OKEx said that one of its private key holders was working with […]
OKEx founder Star Xu was reportedly questioned by police a week ago. The founder of major global cryptocurrency exchange OKEx has been reportedly questioned by authorities previous to OKEx suspending cryptocurrency withdrawals.OKEx founder Mingxing Xu, also known as Star Xu, has reportedly been questioned by the police, Chinese news agency Caixin reported today. According to the report, the executive was investigated “at least a week ago” and has also been absent from work for some time.When approached for comment on Xu’s participation in a police inquiry, OKEx told Cointelegraph that the....