OKEx. OKEx withdrawals begin OKEx observed net crypto withdrawals worth more than USD100 million within hours after it reopened withdrawals from users at 08:00 (UTC) on November 26th. The Tron Foundation has published an update on a decision it took yesterday to enable Tron ( TRX ) holders to withdraw their tokens from the OKEx … OKEx customers run their own shop. Do your own research as shady operations are often getting into cryptocurrency media. Refer to SDK for more information. As there is no direct interface for P2P bids and asks, users have also taken their quotes outside of the exchange, to other communication channels. You can find the source link at the bottom of each article - and keep in mind the content is republished as is, we do not verify any information or data given by the news sources. When asked, “What are your thoughts on this incident, and how do you think OKEx should proceed from here to boost the crypto trading community’s confidence in the platform?”Â. For example, at the time of performing this analysis, BTC's withdrawal fees in OKEx are 0.0005, which is almost the cheapest withdrawal fee you will find for Bitcoin. New to Bitcoin? 291. Please use the IP address outside mainland China to access the API of OKEx. — remain unaffected.”. 2 December 2020. Hao went on to highlight that except for withdrawals, all of OKEx’s other services such as deposits, spot trading, derivatives and staking remain unaffected. Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain. If he can’t authorize it, it will affect various fees and the authorization of withdrawals,” the source claimed. © 2020 The Block Crypto, Inc. All Rights Reserved. Like what we do but hate ads? On October 16th, OKEx unexpectedly announced that they were suspending withdrawals because one of its private key holders was involved in a police investigation. However, Okex says all services except withdrawals are operating normally, and … Finally, regarding deposit fees, OKEx is a no-fiat exchange and does not charge anything for funding the account with cryptos as well. Coin Vigilance is an opinionated magazine always on the lookout for cryptocurrency and blockchain tech news. In this week’s CoinGeek Pulse episode, we heard about Blockchain Nation Switzerland and some great news on two exciting updates within the Bitcoin SV ecosystem. *** Nothing stated on this website constitutes investment advice *** We are not responsible for the content on URLs we link to *** We cannot check all news and commentary for accuracy and thus are not responsible for any direct or indirect damage caused by misinformation ***. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. However, please treat every outgoing link on this website as an advertisement and do your due diligence. OKEx is a world-leading cryptocurrency and Bitcoin exchange that provides hundreds of trading pairs for spot and derivatives. The Central Bank of Nigeria announced its “Naira 4 Dollar Scheme” recently, targeting diaspora remittances. After OKEx suspending withdrawals on October 16, Tron Foundation and Justin Sun, CEO and founder of Tron, has announced an unlimited 1:1 withdrawal campaign of TRX on OKEx to help TRX holders protect their assets. Although the OKEx exchange chose not to say which of their private key holders was in custody for an investigation, it is no coincidence that Star Xu being taken into and released from custody aligned with OKEx suspending and reactivating withdrawals. OKEx CEO answers users’ questions about the recent withdrawal pause was originally published in OKEx Blog on Medium, where people are continuing the … This was contained in a press release on the current issues that the blockchain is having with embattled exchange OKEx.. OKEx, one of the world's largest cryptocurrency exchanges, is ready to unlock a cryptocurrency withdrawal functionality on November 27. We set out to uncover what does OKEx withdrawal halt mean for users. This article is provided for informational purposes only. Tron Foundation has announced the termination of 1:1 withdrawals on OKEx. The day that withdrawals stopped on OKEx, it was revealed that OKEx founder and private key holder Mingxing “Star” Xu was taken into police custody for an investigation that is allegedly unrelated to OKEx operations.Â. OKEx CEO Jay Hao recently hosted an AMA via telegram for users who had any questions or concerns regarding OKEx’s 42-day suspension of its unrestricted withdrawal feature. New internal transfers complement existing 1:1 withdrawals Chinese investigations into the OKEx exchange continue Tron Foundation, one of the largest global blockchain-based operating systems, has updated its 20 th October decision to allow manual internal transfers of Tron (TRX) tokens from the OKEx exchange (OK- TRX ! Coin Withdrawal Fee Best in Market Market Average We have estimated and built a timeline below as to the possible paths on the detention of this person. ‘Enormous wall of money’ will send Bitcoin to $1M in 2025 — Raoul Pal, Litecoin, Algorand, DASH Price Analysis: 16 October, Aave, Maker, DigiByte Price Analysis: 13 March, XRP, Bitcoin SV, Elrond Price Analysis: 13 March, Stellar Lumens, FTX Token, Decred Price Analysis: 13 March, NFT special! See the future of trading at Loopring. , around 200,000 bitcoins, or 1.1% of the total circulating bitcoin supply (worth about $2.3 billion), are currently stuck in OKEx wallets. * * * We do not automatically endorse the news we re-publish! What Does OKEx Withdrawal Halt Mean For Users? Assuming that OKex’s withdrawal issues are caused by the detention of a keyholder, the risk is dependent on the release of the said person and the access to the equipment needed to enter the key. On Oct. 21, the Tron Foundation announced that it would facilitate an “internal transfer” option at a 1:1 ratio for all TRX holders directly affected by the withdrawal freeze. I think that the incident highlighted several very important points. However, it also highlighted the strength of our infrastructure and security — in that we were able to safeguard all user assets, as well as continue to maintain operations on all other functions of the exchange. OKEx froze withdrawals on Oct 16 amid controversy that the exchange had been under investigation from law enforcement. News Bot is working hard day 24/7 gathering the best Bitcoin and Cryptocurrency news for you. The OKEx spokesperson told The Block that the exchange is “not connected with Star Xu in any ways.”. Later that day, rumors began to circulate that the private key holder that was involved in the police investigation was OKEx’s founder, Xu ‘Star’ Mingxing. Xu’s Weibo (a Chinese microblogging website) account also appears to have been taken down. Nearly everything published in three categories - Bitcoin News, Ethereum News, and Cryptocurrency News - is taken by News Bot from other news sites. 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.”, “We are unable to disclose the nature of an ongoing investigation but would like to assure all OKEx users that their funds are safe and that all other functions on OKEx are unaffected,” the spokesperson said. Throughout the AMA, many questions that Hao answered started with some variation of the question, “what happened?” Hao refused to answer that portion of the question when he provided his answers–but he did it in a very professional way.Â, It is rumored, or rather, well known, that OKEx had to suspend its withdrawal feature for 42 days because one of its private key holders was under investigation by police. Withdrawals Frozen on OKEx. Bitcoin price rally to $61,800 shows BTC bulls are in full control, NFT special! OKEx CEO Jay Hao told The Block that the decision to “temporarily pause withdrawals was taken with user security in mind.” According to tracker Glassnode, around 200,000 bitcoins, or 1.1% of the total circulating bitcoin supply (worth about $2.3 billion), are currently stuck in OKEx wallets. Earlier today, cryptocurrency exchange OKEx halted withdrawals indefinitely as one of its private key holders “is currently cooperating with a public security bureau in investigations.” 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. Coins. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Website 🔗 okex.com. Search. Home » Business » OKEx plans to prevent future withdrawal suspensions, Business Withdrawal Fees. $10066.64. OKEx suspends withdrawal but funds are safe OKEx mentioned that with this measure, the service can be stopped or stopped at any time without prior notice based on “Service Articles of Incorporation 8.1”. OKEx CEO Jay Hao recently hosted an AMA via telegram for users who had any questions or concerns regarding OKEx’s 42-day suspension of its unrestricted withdrawal feature. Here’s Why OKEx’s Halting Withdrawal Episode Won’t Haunt Bitcoin Trouble appeared to be brewing for the well-known cryptocurrency exchange OKEx after one of its founders was held by police. OKEx says withdrawal issues are ‘temporary,’ can’t disclose ‘the nature of an ongoing investigation’ written by Yogita Khatri @ https://www.theblockcrypto.com/post/81406/crypto-exchange-okex-withdrawal-issues-investigation?utm_source=rss&utm_medium=rss October 16, 2020 Yogita Khatri. Our affiliate relationships with the sites do not affect our review scores, our opinions remain genuine. REST support market data, trading, and withdrawals and WebSocket support market data. We are not responsible for any losses or damages caused by your interaction with third-party sites. on Cryptocurrency Exchanges. When asked if the investigation is related to this matter, the OKEx spokesperson told The Block: “This is completely unrelated to OKEx and its exchange business.”. Coins (1917) Exchanges (55) L2 is here: the self-custody and no KYC of a DEX, instant and cheap trades like a CEX. Chinese media group Caixin, citing “two sources close to OKEx,” reported that OKEx founder Star Xu is the one who “cooperated with public security investigations.”, One of the two sources told Caixin that Xu was detained by police “at least a week ago and had not appeared in the workgroup for many days.”. It exposed some weaknesses in our internal processes, which we are now steadfast in correcting. Despite the availability of this system, some OKEx users have worked out alternatives to get their funds out of the platform for as long as withdrawals are suspended. Average. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. During the AMA, Hao revealed that OKEx plans to make changes to its infrastructure to avoid any future suspension of the withdrawal feature. On 16 October, OKEx suspended withdrawals on its highly popular exchange platform, creating huge media waves as speculators wondered if the exchange was being shut down, or was becoming insolvent. Trading Bitcoin options is less risky than futures but mind the premium! “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,” OKEx went on to say in an official announcement. However, we feel that it is necessary in order to maintain our high standard of security for users’ funds on OKEx.”. Median. Although the OKEx exchange chose not to say which of their private key holders was in custody for an investigation, it is no coincidence that. What Bitcoin’s price recovery means for its future, https://www.theblockcrypto.com/post/81406/crypto-exchange-okex-withdrawal-issues-investigation?utm_source=rss&utm_medium=rss. 2021 Coin Vigilance © - All Rights Reserved (excluding re-published articles), OKEx says withdrawal issues are ‘temporary,’ can’t disclose ‘the nature of an ongoing investigation’. Beeple’s millions, Banksy profits, problems for Kings of Leon: Hodler’s…, Litecoin, Waves, Compound Price Analysis: 13 March, Tezos, Cosmos, Algorand Price Analysis: 13 March. OKEx’s Withdrawal Suspension Isn’t Behind Bitcoin’s Rally: Analysts Bitcoin’s price has been up dramatically since the very day popular exchange OKEx announced the suspension of … As local outlets report, China is accelerating its rollout as it readies the digital currency for use during the Winter Olympics in Beijing in 2022. The trading pl ). Xu is “more careful about the company’s financial expenditure management. OKEx Academy. “A spokesperson for Okex said Cryptoquant’s data did not match the firm’s internal records, but Okex has yet to provide their own figures,” Muyao Shen said on Thursday. OKEx freezes withdrawals indefinitely on Friday, October 16 It was this past Friday when one of the most well-known exchanges, OKEx, suspended withdrawals – followed by an announcement stating that one of the holders of the clients’ private keys was “cooperating with a public security bureau” in regards to an ongoing investigation. Step 2: Select a currency to withdraw Select the currency you wish to withdraw from your OKEx account. In the OKEX Token Withdraw page click on the Internal Funds Transfer. 2. “OKEx is a separate entity from OK Group and, as such, we are not in a position to comment on any actions or activities related to Star Xu,” the spokesperson added. The day that withdrawals stopped on OKEx, it was revealed that OKEx founder and private key holder, Mingxing “Star” Xu was taken into police custody, for an investigation that is allegedly unrelated to OKEx operations.Â, announced that withdrawals would reopen, it was revealed that, Star Xu had been released from police custody, . Coin Vigilance - Bitcoin news that matter, guides and reviews, Earlier today, cryptocurrency exchange OKEx halted withdrawals indefinitely as one of its private key holders “is currently cooperating with a public security bureau in investigations.”. The lawsuit alleged that YouTube had “feigned ignorance” as XRP scams defrauded millions of dollars on the video sharing platform. 3. Nov 5, ... Withdrawal process Consider donating! If you continue to use this site we will assume that you are happy with it. being taken into and released from custody aligned with OKEx suspending and reactivating withdrawals. For WEB: Step 1: Click the top of right side “Withdraw”, it will show the withdrawal page Step 2: Select the currency to withdraw Step 3: Input the withdrawal address and amount to continue “We understand that the temporary suspension of withdrawals will cause inconveniences, and we sincerely apologize. We value honest perspective, speed and resilience. The key holder's being out of touch prevented withdrawal authorization from being completed, the exchange wrote in a notice published early Friday morning. Beeple’s millions, Banksy profits, problems for Kings of Leon: Hodler’s Digest, March 7–13, 6 Questions for Harumi Urata-Thompson of Celsius. We use cookies to ensure that we give you the best experience on our website. Hao tweeted that the investigation concerns the private key holder’s “personal issue only,” without revealing any details. Login to your OKEx account then hover your mouse in your Account and select Withdraw. Another Chinese news outlet BlockBeats reported that Xu “might [have] move[d] some money to HK [Hong Kong] through illegal private bank… when he purchased the listed company personally.”, Last year, Xu bought a controlling stake in LEAP Holdings — a construction engineering firm listed on the Hong Kong Stock Exchange — for around $60 million. 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. Following the halting of withdrawals from its platform, Bitcoin’s price tanked over 3% in a matter of a few hours. The day that OKEx announced that withdrawals would reopen, it was revealed that Star Xu had been released from police custody. OKEx plans to prevent future withdrawal suspensions, “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,” OKEx went on to say in an, , many questions that Hao answered started with some variation of the question, “what happened?” Hao refused to answer that portion of the question when he provided his answers–but he did it in a very professional way.Â, It is rumored, or rather, well known, that OKEx had to suspend its withdrawal feature for 42 days because, one of its private key holders was under investigation by police, . “We will do everything in our power to reinstate this service promptly and will provide updates on the matter as soon as possible,” said Hao, adding that “all other activities — including deposits, spot trading, derivatives, staking, etc. OKEx offers investors a variety of options for depositing and withdrawing their cryptocurrency assets from the exchange. OKEx’s troubles. Follow. OKEx CEO Jay Hao recently hosted an AMA via telegram for users who had any questions or concerns regarding OKEx’s 42-day suspension of its unrestricted withdrawal feature. Local reports in China had also reported that … We link to some of the sites and services that we mention using affiliate links. The Tron Foundation has taken the decision to provide an “internal transfer” option for TRX holders affected by the OKEx withdrawal freeze. OKEx offers REST and WebSocket APIs. We are the leader among cryptocurrency exchanges, with daily trading volume and open interest of Bitcoin futures reaching $1.65 billion and $1.1 billion, respectively. It is strongly recommended to … $12.81.