Earlier this week, it was revealed that OKEx had frozen all crypto withdrawals from its platform over concerns about a private key holder. OKEx is a leading crypto-asset exchange that processes a material percentage of the spot and futures volume in the industry.
OKEx said that one of its private key holders was working with a public security bureau. He had been out of contact since he started working with the bureau, so they could not process withdrawals.
Despite subsequent reassurances by company CEO Jay Hao, the coin has continued to slide lower.
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OKB has dropped 20% in the past 24 hours as fears have persisted about OKEx, despite reassurances by the company that