OKEx Founder Reportedly Going to Be Released From Police Custody

OKEx Founder Reportedly Going to Be Released From Police Custody

By Abhimanyu Krishnan | News | 19 Nov 2020


OKEx Founder Mingxing Xu is reportedly going to be released from police custody, according to remarks from Chinese industry insiders on Nov. 18.

  • Chinese cryptocurrency insiders, including Primitive Crypto's Dovey Wan and Hashkey Hub’s Mo Li, tweeted statements suggesting that founder Xu may be released soon
  • OKEx had paused all withdrawals since reports emerged on Oct. 16,  2020 that Xu had been arrested
  • Withdrawals had been suspended as Xu reportedly held the exchanges’s wallet key, though trading resumed shortly after 
  • If Xu does indeed return to his role at OKEx, the exchange may resume withdrawals after over a month of suspension
  • The OKEx token has surged in value since the rumours began circulating, rising nearly 17% over the past 24 hours

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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