Chinese Police Investigation Halts Withdrawals at Cryptoexchange OKEx
- Exchange says probe isn’t related to money laundering or OKEx
- China has periodically cracked down on the crypto sector
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Chinese police have launched an investigation linked to cryptocurrency exchange giant OKEx, forcing one of the world’s largest Bitcoin trading platforms to block users globally from withdrawing money.
An unidentified staffer responsible for users’ private keys -- accounts where crypto assets are stored -- has been “out of touch” while cooperating with a police investigation, the Malta-based exchange said in a statement Friday. As a result, the company has halted all cryptocurrency withdrawals, without saying when they will resume. OKEx founder Star Xu was the staffer taken away, Caixin reported, citing two unidentified sources at the firm.