OKEx FUD Benefits Rival UniSwap as UNI Jumps 10%

OKEx FUD Benefits Rival UniSwap as UNI Jumps 10%

UniSwap’s governance token UNI was among the biggest gainers on Friday as the rest of the cryptocurrency market succumbed to a bearish fundamental.

The crypto index lost about $7 billion as trades panic-sold a portion of their holdings under the influence of OKEx. This Malta-based exchange landed itself in the middle of a criminal investigation.

In retrospect, OKEx suspended all its withdrawal options indefinity, saying that one of its private keys holders is “currently cooperating with a public security bureau.” The exchange later said that the investigation was a result of the staff’s personal issue.

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Meanwhile, the Chinese news website Caixin reported that police had apprehended Mingxing Xu, aka “Star,” almost a weak go. He reportedly went out of the loop of the rest of the OKEx team ever since.


— frxresearch (@frxresearch) October 16, 2020

The exchange clarified that customers’ funds remain safe under their custody, adding that they “will

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