The cryptocurrency exchange OKEx turned to an external legal expert in an attempt to remove obstacles to withdrawals, writes The Block. His duties include, among other things, maintaining contact with “some private-key holders”.
On October 16, OKEx suspended withdrawals after one of the private key holders ceased responding. Subsequently, Chinese media reported that it could be the founder of OKEx and OKCoin, Star Xu. An exchange spokesperson refuted this information, clarifying that Xu is not a key holder.
On November 6, OKEx confirmed that the private-key holder continues to cooperate with law enforcement authorities in the investigation.
Representatives of the exchange did not provide details, citing confidentiality. They also described as “rumours” reports that the private-key holder had been criminally charged.
OKEx staff reiterated that all functions aside from withdrawals were operating and that user funds were safe. They pledged to do their utmost to restore operations to normal in the shortest possible time.
Earlier, OKEx denied speculation about the use of a single-signature cold wallet
Prior to this, blockchain developer Zulu Republic, together with liquidity provider Alameda Research and the Whalepool traders’ community, proposed an institutional withdrawal service for OKEx.
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