The founder of a large global cryptocurrency trading company OKEx has been questioned by previous authorities for OKEx’s suspension of cryptocurrencies.
The Chinese news agency Caixin reported today that OKEx founder Mingxing Xu, also known as Star Xu, has been questioned by the police. According to the report, the CEO was investigated “at least a week ago” and was absent from work for some time.
When OKEx was contacted to comment on Xu’s involvement in the police investigation, she told Cointelegraph that the stock exchange was no longer affiliated with OK Group and Xu is the CEO and therefore can not comment on his actions.
The news came shortly after OKEx today suspended the withdrawal of cryptocurrencies on the platform. According to Oslo Børs, OKEx’s private key holders are cooperating with the Public Security Bureau on an ongoing investigation. The stock exchange told Cointelegraph:
“We are unable to disclose the nature of this investigation, but we want to assure all OKEx users that their money is safe and that all other OKEx features will not be affected.”
OKEx CEO Jay Howe said the decision to suspend withdrawals was made “for the sake of user safety,” noting:
As the world’s leading exchange, OKEx can and will not give up users’ security. We will do everything in our power to restore this service as soon as possible and provide updates on this matter as soon as possible. “