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Crypto Exchange OKEx Announces Suspension Of Cryptocurrencies Withdrawals

One of the leading crypto exchange OKEx, according to an official media release, has announced the suspension of cryptocurrencies and digital assets withdrawals.

In an official statement, the exchange said, “One of our private key holders is currently cooperating with a public security bureau in investigations where required.   We have been out of touch with the concerned private key holder.  As such, the associated authorization could not be completed.  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. In order to act in the best interests of customers and deliver exceptional longtime customer service, we have decided to suspend digital assets/cryptocurrencies withdrawals as of [October 16, 2020 at 11:00 (Hong Kong Time)].  We assure that OKEx’s other functions remain normal and stable and the security of your assets at OKEx will not affected.

We sincerely apologize for any inconvenience caused by the suspension of digital assets/cryptocurrencies withdrawals.  We will make public announcement in a timely manner on any important development of the matter.  We will resume digital assets/cryptocurrencies withdrawals immediately once the concerned private key holder is able to authorize the transaction.  We appreciate and value your continued support and trust and will continue to deliver first-class products, services and technical support to our customers,” the statement added.

However, all the other functions will remain in use and stable.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.