$2,300,000,000 Worth of Bitcoin in Limbo Amid OKEx Investigation

$2,300,000,000 Worth of Bitcoin in Limbo Amid OKEx Investigation


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Researchers estimate that an ongoing “public security bureau” investigation has left $2.3 billion worth of Bitcoin (BTC) at the Malta-based cryptocurrency exchange OKEx in limbo.

Crypto withdrawals at the exchange remain frozen and official details on exactly what’s happening are sparse. Chinese media group Caixin reports that OKEx’s founder, Xu Mingxing, was taken away by the police at least a week ago. Two unnamed sources “close to OKEx” tell Caixin that Mingxing is the person in question. According to one of the sources, Mingxing’s disappearance impacts the withdrawal of crypto assets from the exchange.

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OKEx has issued a press release on the matter but the statement is light on details.

“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

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