Cryptocurrency exchange OKEx has suspended withdrawals of all assets indefinitely. The exchange has reported the measure is related to one of the key holders "being out of touch" because he is "currently cooperating with a public security bureau in investigations."
According to OKEx's CEO Jay Hao, the investigation is related to a "personal issue" of the key holder. As the company explains, it is impossible to approve the withdrawal of cryptocurrencies from the platform's wallets without this authorization.
OKEx’s other functions remain normal and stable and the security of assets at OKEx will not affected. OKEx has reported:
"We will resume digital assets/cryptocurrencies withdrawals immediately once the concerned private key holder is able to authorize the transaction."
It is worth mentioning that large amounts of Bitcoin, TRON and Ethereum were removed from the platform a few hours before the news was released.
According to CoinGecko, OKEx is currently the second largest crypto exchange in terms of trading volume in the spot and derivatives markets.
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