OKEX announced suspension of withdrawals

in okex •  4 years ago 

The world's fifth largest cryptocurrency exchange OKEX announced on its Twitter account that it would suspend withdrawals. The rest of the services, according to the exchange representative, are fully functional.

According to the Chinese network newspaper Caixin network, one of the founders of the exchange, Xu Star, was taken to the police station a week ago. It all started with the disappearance of the secret key holder of the exchange Lao Xu, who also stopped communicating about a week ago.

The exchange claims that all client funds, which are 198 thousand bitcoins worth more than $ 2.2 billion, are completely safe and the withdrawal operations will resume soon.

However, the Whale Alert service, respected in the crypto world, claims that 5,000 BTC worth $ 56 million was transferred from the wallet of the Okeh exchange, the one from which the exchange lost the keys, to the account of the Binance exchange yesterday, October 16 at 14:27.

The official Twitter manager of the Okex exchange denies this news and claims that the specified account does not belong to the Okex exchange. But for some reason it's hard to believe in it. Both owners of the private key of the exchange cold wallet are currently in the police department. The police seem to be adept at using persuasion and suppression techniques.

This is the second government attack on the world's largest cryptocurrency exchanges. Recently, the founders of the largest crypto derivatives exchange Bitmex were ousted.

A local panic began on the market, which affected the rates of major cryptocurrencies, and traders reacted by withdrawing funds from the accounts of top exchanges. Over the past month, more than $ 2 billion have been withdrawn from the wallets of large centralized exchanges. Now they are wondering which exchange will be next. There are many contenders for hitting law enforcement agencies, but the closest candidates should be looked for in the top ten.

Who is not in danger of such a fate? Naturally the world's largest exchanges under the full control of bankers. These include primarily Binance, Bittrex, Paxos and Coinbase. On these exchanges, customer control is particularly good. In addition, they always respond to intelligence inquiries regarding the disclosure of customer information.

Coinbase just reported that it received a total of 1,914 customer data requests from global law enforcement in the first six months of 2020. In its first so-called “transparency report” published (https://blog.coinbase.com/transparency-at-coinbase-c8edf6dce4d6) on Friday, Coinbase, which boasts a user base of 38 million people, said 97 % of inquiries were related to criminal investigations.

The largest number of requests fell on American agencies, which sent 1,113 applications, or 58% of the total. At least 441 people (23%) were from the UK, 176 or 16.5% were from Germany, and the rest were from other parts of the world.

The table below is a complete list of the jurisdictions of clients whose account information Coinbase has politely shared with the FBI and other intelligence agencies. Look for your country there.
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