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OKEx set to begin allowing withdrawals on Thursday

Nicholas Say
Nicholas Say

Following the update of withdrawal reopening last week, Malta-based cryptocurrency exchange OKEx recently confirmed that asset withdrawal is scheduled for reopening at 8:00 UTC on November 26. The exchange has also launched a variety of reward programs, which begin this Friday to attract the users and prevent significant quantities of crypto-asset outflows.

On October 16, OKEx halted cryptocurrency withdrawals as a result of its CEO Star Mingxing Xu being taken into Chinese police custody as part of an investigation. OKGroup, a Hong Kong-listed blockchain technology and service provider that was bought by Xu in 2018 where the founder has been served as a non-executive director, stated over the weekend that,

"The relevant investigation by public security authority in the PRC has temporarily come to an end and Mr. Xu has now returned to his normal business functions."

Xu's later statement on WeChat pointed out that the police investigation regarding illegal activities didn't apply to him but to a shell company case he acquired in Hong Kong.