OKEx has announced that we will resume withdrawals on or before Nov. 27, 2020. A WebSocket System Upgrade is scheduled for tomorrow, Oct. 27 at 8:30 am UTC (affects API traders and other parties using the OKEx API). OKEx will therefore reopen unrestricted withdrawals on or before Nov. 27, 2020 (UTC) . *Pursuant to 8.1 Service Change and Interruption of the Terms of Service, OKEx may change the Service and/or may also interrupt, suspend or terminate the service at any time with or without prior notice. OKEx promises to continue building more high-quality products and a better user experience. In regard to withdrawals from OKEx, the Online Risk-Management System checks for withdrawal frequency, as well as for abnormalities in profits and account behavior. All user funds remain safe and unaffected. Presently, one of OKEx’s private key holders has completed assisting the authorities in a previously referenced investigation. * We would like to assure users that the security of funds on OKEx has not been affected. Okex Not Involved in any illegal Activities. In a recent update, the Okex has put up an official announcement that the withdrawals would restart before 27 November 2020. Meet OKEx — Your one-stop cryptocurrency trading platform to buy bitcoin . OKEx, the Malta-based cryptocurrency exchange announced that cryptocurrency/digital asset withdrawals will be suspended as of approximately 10:45 PM CST ( 10/15/20). OKEx news OKEx withdrawal suspension OKEx scam Star Xu Arrest CCP. Asian cryptocurrency exchange Okex says peer to peer trading is now open but the freeze on withdrawals remains in effect. OKEx is the world’s largest cryptocurrency, spot & derivatives and bitcoin exchange. We are working hard to resume withdrawals as soon as possible. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. The exchange revealed that the … Some outlets have reported that the mysterious […] We are doing everything we can to ensure that the platform returns to full functionality. OKEx will therefore reopen unrestricted withdrawals on or before Nov. 27, 2020 (UTC). We are working to get the platform back to full functionality. The exchange stated that they will make a public announcement when withdrawals are re-enabled. At the end of last month, OKEx had the highest aggregated open interest for BTC futures across all exchanges, at $1.1 billion. Via the above processes and protocols, the OKEx hot wallet system is able to suspend large withdrawals by malicious users within a short time span and prevents the platform from experiencing online system attacks. We can confirm that a party related to OKEx is, as stipulated by law, actively cooperating with a public security bureau in an investigation. Additionally, all other operations on OKEx that do not involve withdrawals are functioning normally. Throughout this investigation, OKEx was confirmed not to have been involved in any wrongdoing or illegal activities, and the private key holder has now returned to his normal business functions. We also reported that there was an inflow of 211 BTC this week. In regard to claims on Twitter today that funds had been withdrawn from OKEx to a competitor exchange, OKEx's wallet team has confirmed that the origin wallet addresses in said transactions do not belong to OKEx. WithdrawalsWithdrawals from OKEx are still temporarily paused. OKEx said it has been “out of touch” with the concerned private key holder, without disclosing since when and by when it could resume withdrawals. Click Here to Join OKEx Official Community >>>, Our cold wallet technical solution has previously been published on our site. Simultaneously, we will also be launching significant user loyalty reward campaigns to express our deep apologies and most sincere gratitude to our community. Please continue to check this article or our official social channels for updates on the situation. Users must complete at least KYC verification level 1 in order to withdraw tokens from OKEx. The security of user funds is our top priority. For BCHUSD and BCHUSDT futures and perpetual swaps, today we released details on risk control adjustments that will take place around the BCH hard fork. Please use the IP address outside mainland China to access the API of OKEx. All user funds remain safe and unaffected. The platform users have not been able to trade cryptocurrency for fiat on OXEx since Friday, October 16, when the company disabled the fiat trading tunnel and suspended the withdrawals. User funds are safe. All functions on OKEx are up and running, except those that involve withdrawals. All OKEx products are up and running except those that directly involve withdrawals — i.e., Sell Crypto fiat gateway and DeFi token yield farming on OKEx Earn, which were also temporarily suspended on Oct. 16. [LIVE UPDATES] OKEx confirms all user funds safe, non-withdrawal platform ops functioning as usual. Other product updatesFor C2C Loan users: OKEx decided to move up the suspension date of BCH as collateral from 3:00 am UTC on Nov. 8 to 9:00 am UTC on Oct. 29. For more details regarding the planned hard fork and how it will affect trading on OKEx, please click here. We maintain our commitment to ensuring that OKEx will always be a transparent and credible blockchain services company. OKEx Market Microstructure Report — October 2020The data for trading activity on OKEx in the month of October is in. Since its inception, OKEx has strictly complied with laws and regulations around the world, and has established strict Know Your Customer and anti-money laundering mechanisms. Because OKEx has insisted on maintaining 100% reserves since its establishment, 100% of user funds can be withdrawn without any restrictions after withdrawals are reopened. There are currently two competing fork proposals, Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash Node (BCHN). The trading volume of OKEx crypto derivatives (futures, perpetual swaps and options) reached 64.63 billion USDT — a 60% weekly increase. Currently, our business operations are stable and running as usual. https://www.okex.com/academy/wp-content/uploads/2020/10/1720261.png, Realigning SushiSwap’s AMM model to be a revenue-sharing and community-driven network, Lightning Labs team discusses Lightning Network in AMA with OKEx community. Read the full report to learn more. The reason for the suspension of withdrawals in this specific incident was because a private key holder was not able to authorize transactions. There has been no asset outflow of any form from OKEx since the suspension of withdrawals on Oct. 16. The security of user funds is our top priority and all user funds remain safe and unaffected. We have always cooperated with regulators and firmly believe that in the future, the legal supervision of blockchain and digital assets worldwide will become increasingly robust, allowing service operators to grow and flourish within an established legal framework. Hard fork update for BCH tradersThe Bitcoin Cash (BCH) network completed its hard fork yesterday, Nov. 15. At the same time, OKEx will continue to further the field of blockchain application development, increase investments in technology and products, and contribute to the healthy and sustainable development of the industry. We would also like to take this opportunity to restate the technical details of our hot wallet system below: FLOW Mainnet Upgrade: Depositing and Withdrawal Suspension, Monero (XMR) Wallet Upgrade: Depositing and Withdrawal Suspension, THETA Mainnet Upgrade: Depositing and Withdrawal Suspension, Monero (XMR) Wallet Upgrade: Depositing and Withdrawal Resumption, Cardano (ADA) Mainnet Upgrade: Depositing and Withdrawal Resumption, XEM Wallet Upgrade: Depositing and Withdrawal Resumption, ARK Mainnet Upgrade: Depositing and Withdrawal Resumption, Cardano (ADA) Mainnet Upgrade: Depositing and Withdrawal Suspension, DOT Mainnet Upgrade: Depositing and Withdrawal Resumption, DOT Mainnet Upgrade: Depositing and Withdrawal Suspension, OKEx reveals user compensation and loyalty rewards for after withdrawals reopen, OKEx announcement on the opening of withdrawals. The withdrawal transactions that pass the above checks of the Online Risk-Management System are sent to the Vault System. However, Okex says all services except withdrawals are operating normally, and the customer’s funds are also safe. We thank you for your continued patience and support. A cryptocurrency exchange platform based in Hong-Kong has come up with a new identity verification process in light of the ongoing frauds. WithdrawalsWithdrawals from OKEx are still temporarily paused. Read the full announcement here. Additionally, despite the decline in token prices in the world of decentralized finance, the trading volume of DeFi tokens remained stable — down only 2% month-over-month. User funds remain safe and unaffected. However, we unfortunately failed to include other specific scenarios, such as private key holders becoming unreachable due to unforeseen circumstances in our contingency plan. WithdrawalsWithdrawals of digital assets from OKEx are still temporarily paused. All other platform operations that don't involve withdrawals remain up and running. As always, please practice proper risk management when trading, and only follow our official communication channels for the latest updates. See the full announcement for more details. This process is not an ordinary TCP/IP communication protocol. WithdrawalsWithdrawals on OKEx are still temporarily paused. Please note, users who borrow USDT with BCH as collateral must repay their loans before 3:00 am UTC on Nov. 14, which is when a mandatory repayment will be triggered. Read the full announcement for more details on how to receive lower fees for up to 30 days after withdrawals resume on OKEx, plus other benefits. Update (Oct. 16, 10:36 UTC): This article has been updated with report naming a founder of OKEx who is likely the individual behind the withdrawal issue. WithdrawalsWithdrawals from OKEx are still temporarily paused. But now, it is more than 4 days, the exchange is yet to give any official update on the withdrawals increasing the FUD among the traders. The Bitcoin Cash (BCH) hard fork is scheduled to take place tomorrow, Nov. 15, around midday, UTC. We sincerely apologize for the inconvenience to users and are working hard to resume full platform functionality. At the same time, we can assure our users that 100% of their funds can be withdrawn after withdrawals have been resumed on OKEx. All user funds remain safe and unaffected. OKEx's hot wallet system also has a second layer of risk management: Semi-offline Risk Management. We apologize for any and all inconveniences, and we will strive to improve internal processes as soon as possible to prevent similar situations from happening in the future. Claims that the concerned party is under criminal detention have been refuted. Withdrawals from OKEx are still temporarily paused. Please check this article for further updates. We will continue to update users on the situation in a timely manner. There are currently two forked chains, Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash Node (BCHN). The OKEx P2P platform will resume trading on Oct. 21, 12:00 pm UTC for CNY, INR and VND fiat pairs, and the Buy Crypto fiat gateway will also be reactivated at the same time. Before reopening withdrawals, our team is conducting strict security checks in order to resume normal operations of the hot wallet system and ensure the safety of our users’ funds. The security of user funds is our top priority, and all user funds remain safe and unaffected. If the hard fork is successful, users holding BCH on OKEx before the fork will receive two new assets: BCH ABC and BCHN. The exchange had suspended withdrawals amid reports that founder Star Xu had been arrested. Below is a detailed depiction of the withdrawal process. We will keep users posted as soon as we have more information — please refer to OKEx's official Twitter for the latest updates. You can find more details on how to redeem your bonuses here. We sincerely apologize for the inconvenience to users and are working hard to resume full platform functionality. For all BCH traders on OKEx, we ask that you please do not make any BCH transfers during the fork period in order to avoid asset losses. The OKExChain testnet was upgraded to v0.12.3, which primarily optimized the automated market-maker Swap module, aimed at affecting liquidity on the chain. Let’s take a look at the events that led to the newest controversy involving another major exchange in the crypto industry.. On October 16, 2010, OKex temporarily suspended all its crypto withdrawals. You can find more details of what to expect during and after the fork here. Users' funds remain safely secured. OKEx offers REST and WebSocket APIs. In an official statement published on Friday morning, the exchange detailed that it has suspended all withdrawals since 11 am (Hong Kong time) on October 16. As reported earlier, OKEx suddenly suspended withdrawals, citing that the exchange could not contact one of the holders of the keys needed to sign and authorize withdrawal transactions. We sincerely appreciate your patience and are working hard to resume withdrawals. OKEx Unified Account: How does portfolio margin benefit traders and liquidity in reality? Please note that cryptocurrency withdrawals are still temporarily suspended. Please check back here for updates. The CEO of Okex tweeted that, since the suspension of withdrawal, on-chain analysis shows no out-flow of funds from the exchange, rather the inflow has been on continuous rounds. It also had the highest aggregated OI for ETH futures, at $240 million. UPDATE: Nov. 19 at 12:00 pm UTC OKEx has announced that we will resume withdrawals on or before Nov. 27, 2020. The chief economist at major blockchain analytics firm Chainalysis also confirmed in a tweet today that the transactions in question had been "mislabelled" and were not in fact from OKEx. Hedge or profit from long or short positions, Easy to trade all instruments in just one account. The BTC wallet balance on OKEx currently stands at 219,704 BTC. OKEx has many years of experience safely operating digital wallets, assets and transactions with no major security incidents. As of 3:00 am UTC today, Oct. 16, OKEx has suspended digital asset withdrawals temporarily. The details of these reward campaigns will be announced in the next few days. Troubled China-based crypto exchange OKEx is set to resume its withdrawal services starting Friday after a successful withdrawal test by the exchange. When reached for comments, an OKEx spokesperson told The Block that the withdrawal issues are “temporary” and that the exchange cannot disclose “the nature of an ongoing investigation.” It is strongly recommended to … Please check this article for future updates. At present, TRON has helped 16 OKEx users withdraw their TRX, and the TRON Foundation has transferred a total of 9419739.963519 TRX, worth 247268.174 USD … In this specific incident, therefore, the ultimate resolution for the private key holder’s short-term incapacitation was not a technical one. Product updatesOKEx-developed public blockchain infrastructure OKExChain has released its progress report for the month of October. The exchange reiterated that it has always complied with regulations. Currently This system then automatically creates an unsigned transaction. Please check this article for further updates. The purpose of the chat was to connect with the OKEx community and address the platform’s recent pausing of withdrawals — which have since resumed. Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Withdrawals on OKEx are still paused. Other updatesWe’ve introduced a system to reward our loyal customers with lower trading fees. Please continue to check this article or our official social channels for further updates. Before reopening withdrawals, our team is conducting strict security checks in order to resume normal operations of the hot wallet system and ensure the safety of our users’ funds. At the same time, we can assure our users that 100% of their funds can be withdrawn after withdrawals have been resumed on OKEx. We sincerely apologize for any inconvenience to our users that the suspension of withdrawals may have caused. According to OKEx’s official announcement, Please check this article for further updates. OKEx announced on Nov. 6 that withdrawals are still suspended. For more insights from our October Microstructure Report, you can read the full summary here. Updates from OKEx According to a further announcement on 6th November 2020, withdrawals are STILL suspended. Finally, thank you to all our users and our community for their support and trust in the platform. Trading digital assets involve significant risk and can result in the loss of your invested capital. Our cold wallet technical solution has previously been published on our site (https://www.OKEx.com/wallet-security). Claim up to $80 for new OKEx users registered after Aug 29, 2020. Prior to withdrawals reopening, our team will conduct strict security checks to resume normal operations of the hot wallet system and ensure the safety of our users’ funds. Yet the CEO of Okex exchange had assured the security of funds.. Please continue to check this article or our official social channels for further updates. Please check this article for further updates. Okex exchange had suspended the withdrawals on October 15, 2020, as one of the private key holders was under police custody. Withdrawal limits for - Unverified accounts: 0 KYC level 1 accounts: 0.5BTC every 24 hours KYC level 2 & 3 accounts: 100BTC every 24 hours (may increase according to the user's trading volume) The new withdrawal limits will apply at: 14:00 August 28, 2018 REST support market data, trading, and withdrawals and WebSocket support market data. OKEx, one of the top crypto spot and derivatives exchanges, has suspended all withdrawals indefinitely, citing it lost touch with one of its private key holders.. On the other hand, the semi-offline servers cannot be compromised even if they are physically attacked, as the private key uses 2-3 multisig technology and is stored in the server's RAM, making it impossible for hackers to access. OKB's average market capitalization in October was $1.47 billion, and the total trading volume for the month reached 2.48 billion USDT. We appreciate and value your continued support and trust, and we will continue to deliver first-class products, services and technical support to our customers. Please check the announcement for full details. Vivien ChoiEmail: [email protected]Telegram: @vivienchoi, Twitter: https://twitter.com/OKExFacebook: https://www.facebook.com/okexofficial/LinkedIn: https://www.linkedin.com/company/okex/Medium: https://medium.com/@OKExTelegram group (English): https://t.me/OKExOfficial_EnglishTelegram group (Russian): https://t.me/okexofficial_ru. OKEx has always used a backup mechanism for private key holders to ensure that each private key holder can trigger the activation of the backup private key in the event of long-term incapacitation, such as death or memory loss. OKEx, one of the world’s largest cryptocurrency exchanges, will resume P2P trading for three fiat currencies as of 12:00 pm (UTC), October 21. Read more about the developments here. There has been no asset outflow of any form from OKEx since the suspension of withdrawals on Oct. 16. We would also like to take this opportunity to restate the technical details of our hot wallet system below: By deploying its Online and Semi-offline Risk-Management systems, Semi-offline Multisignature services, big data risk management systems and other protection mechanisms, OKEx's hot wallet system has been running stably and smoothly. Patrick Thompson OKEx, the Singapore-based digital currency exchange that halted digital asset withdrawals on October 16th, has hired external counsel to help them navigate the issues the exchange currently faces.