OKX Can Freeze Your Funds If You Deposit Them To Sanctioned Crypto Platforms

• OKX CEO Star Xu warned users that deposit to and withdrawals from sanctioned crypto platforms, including Garantex and Tornado Cash, could result in freezing your funds.

OKX CEO Star Xu has warned users about the risks surrounding the sanctioned crypto mixer Tornado Cash.

In an August 9 statement on the X platform, Xu stressed that deposits from sanctioned entities, including Garantex and Tornado Cash, or withdrawals to those entities, could trigger compliance risks and result in account suspensions.

被制裁的人无法在okx成功开户。

对于已经开户成功用户：
1. 从被制裁的主体比如 Garantex和 Tornado cash充值到okx
2. 从okx提币去被制裁的主体

都会触发合规风控，导致被清退账户。

制裁和普通人很遥远，大部分人完全不需要担心。 https://t.co/MTJ7OtQRny

— Star (@star_okx) August 9, 2024

Xu emphasized that OKX strictly adheres to all relevant sanctions policies, including those imposed by the U.S.

As a consequence, the exchange does not accept customers on the Specially Designated Nationals (SDN) List and cannot provide services to sanctioned individuals or entities.

He clarified that this policy has been in place for some time and is not new. 

Xu said:

“If our sanctions controls are triggered due to deposits from or withdrawals to a sanctioned exchange or DeFi protocol such as Garantex or Tornado Cash, our compliance team can freeze the associated funds and off-board the account.”

This warning follows a public call by an X user known as Satoshi Friends, who urged users from the Commonwealth of Independent States to withdraw their funds from the platform.

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