OKEx has suspended withdrawals indefinitely on its platform, following reports of investigation by authorities on October 16.

• Local media outlets report that a company official has been arrested by the police and that he or she is cooperating with the police
• Though there is no confirmation, sources told the outlet that the individual is Xu Mingxing, founder of OKEx 
• The official holds a keys to the exchange’s wallet, hence the suspension of withdrawals
• OKEx, registered in Malta, is one of the world’s most popular exchanges, with over $3.4 billion in 24 hour trading volume; it is also the second largest derivatives platform
• Authorities appear to stepping up their focus on examination of cryptocurrency entities; the US CFTC has charged derivatives platform BitMEX on KYC related charges
• Bancor is also facing a lawsuit, but has asked for the case to be tried in Israel