OKEx has resumed withdrawals on its platform after the company announced a sudden suspension of all withdrawals in October. The exchange announced the re-opening in a blog post on the 26th of November. OKEx added:
“We apologize for any and all inconveniences, and we will strive to improve internal processes as soon as possible to prevent similar situations from happening in the future.”
Also, OKEx is planning to compensate customers for the inconveniences. The exchange has promised a loyalty and rewards program to recompense for the sudden withdrawal suspension. In a separate blog post, OKEx explained the details of the compensation and rewards program.
The company further promised to introduce more features that would improve trading experience on the exchange platform.
At the time the suspension was announced, the company said one of its “private key holders” was involved in a criminal investigation with a public security bureau. The company noted that withdrawals could not be processed without the authorization of the private key holder.
Shortly after the announcement, reports revealed that OKEx founder Star Xu was in police custody. While Mars Finance claimed that Xu was being questioned based on a backdoor listing for OKEx parent company OK Group, Caixin said it was a money-laundering case.
Although OKEx assured customers of their digital assets’ safety, its customers reacted when the company reportedly started moving BTC.
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