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Oct 17, 2020 03:39 AM

Exclusive: OKEx Suspends Cryptocurrency Withdrawals

By Hu Yue and Denise Jia

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OKEx ranks 11th among cryptocurrency exchanges by trading volume according to CoinMarketCap.

OKEx ranks 11th among cryptocurrency exchanges by trading volume according to CoinMarketCap.

The Bitcoin exchange OKEx suspended cryptocurrency withdrawals on its platform on Friday as its Chinese founder faces policy inquiries “in cooperation with an investigation.”

OKEx founder Xu Mingxing was taken at least a week ago and hasn’t appeared in a work-related social media group recently, according to a person close to the company. It’s not clear what the investigation is about. There have been signs of renewed crackdown of anti-money-laundering activities on over-the-counter (OTC) trading platforms of cryptocurrencies.

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