OKEx users express frustration over suspended withdrawals

Primary trade OKEx suspended crypto withdrawals on Oct. 16. With little data coming from the company or its CEO Jay Hao within the time since, customers have begun hard solutions by means of Twitter.

In an Oct. 20 tweet from Hao, the CEO stated that there have been “no on-chain out-flow” for the reason that trade introduced it had “briefly suspended” withdrawals on Friday.

“Your property are secure,” said Hao. “We’re going to do our perfect to renew withdrawals ASAP.”

The trade reported on Oct. 16 that it had suspended cryptocurrency withdrawals as a result of certainly one of its personal key holders was once “cooperating with a public safety bureau” relating to an ongoing investigation. On the time, OKEx mentioned that it deliberate to renew withdrawals “right away”, as soon as it was once in a position to authorize such transactions with the important thing holder.

Stories point out that the police additionally introduced the trade’s founder Superstar Xu in for wondering every week previous to the announcement. This has left OKEx customers expressing their rising frustration:

“It is a bit bizarre probably the most largest exchanges on this planet is not letting us withdraw cash for see you later” said crypto Twitter consumer Jojo.

Many customers complained concerning the loss of transparency in comparison to that of alternative exchanges: 

“The place is your CEO Jay Hao? He has to have interaction and provides up to date data regularly. When one thing occurs with Binance, CZ tweets each and every hour.”

“With billions locked up and the popularity of the trade at stake, what’s the reasoning for no longer offering extra transparency?” asked consumer Douggie Clarke. “For instance, detailing how the important thing state of affairs befell.”

Others implied they have been leaving the trade completely — probably, when they regain get admission to to their price range.

Cointelegraph reached out to OKEx for remark, however representatives didn’t reply in time for newsletter.


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