OKEx’s OKB Crypto Slides Another 20% as Fears Around Exchange Fester

OKEx’s OKB Crypto Slides Another 20% as Fears Around Exchange Fester


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.

As a result of this news, the price of OKEx’s native OKB coin slid. The coin fell around 10% in the hour after this news was released.

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Despite subsequent reassurances by company CEO Jay Hao, the coin has continued to slide lower.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom OKEx’s OKB Coin Slides Even Lower

OKB has dropped 20% in the past 24 hours as fears have persisted about OKEx, despite reassurances by the company that

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