Mingxing “Star” Xu, founder of OKCoin and CEO of OK Group has resurfaced after being detained by Chinese police.
According to a report by Bloomberg Thursday, Xu appeared on a private social media platform to post that he had been cooperating with an investigation relating to an equity merger that OK Group had finalized years prior.
The equity investee was the target of a “complicated” legal case, Xu said, choosing not to go into further detail. It remains unclear as to precisely which deal he was referring to.
“The authorities have clarified the matter and proved me innocent,” Xu wrote Friday on his WeChat feed, per Bloomberg’s reporting. “In coming days, I’ll call on everyone who supported OK Group to express my gratitude.”
As CoinDesk reported, the related Malta-based exchange, OKEx, was forced to suspend all account withdrawals on Oct. 16, it said because an unnamed holder of the keys to the crypto assets had