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