Crypto Exchange OKEx to Reopen Bitcoin Withdrawals

In letter

  • OKEx previously suspended withdrawals in October.
  • The crypto exchange has now announced that payouts will resume on or before November 27, 2020.
  • OKEx will also launch campaigns to reward loyalty to its customers.

Crypto exchanges OKEx has announced that it will resume withdrawals from November 27, 2020 following a temporary suspension that began October 16.

The stop of withdrawals came when the founder of the exchange, Xu Mingxing, was taken away by the police. The temporary lack of withdrawals was a major issue for the Chinese crypto community, but now the main exchanges will resume normal business practices.

“Currently, one of OKEx’s private key holders has completed assisting the authorities with a previously mentioned investigation,” OKEx said in one prepared declarationand added that the exchange “will therefore be [reopen] unlimited withdrawals until November 27, 2020. ”

The decision to stop withdrawals at this point was due to the above investigation. On October 16, OKEx issued a statement stating: “In order to act in the best interests of customers and to offer exceptional long-term customer service, we have decided to suspend the disbursement of digital assets / cryptocurrencies. “

The past few weeks have been a turbulent time for the Chinese crypto community. Ding Han, director of overseas marketing BTC.TOP and B.TOP, said these events “caused panic among Chinese crypto enthusiasts.” This is because OKEx is one of the leading crypto exchanges in China.

With OKEx reopening for withdrawals, the exchange also hopes to apologize for the inconvenience caused. “We will also be launching significant user loyalty rewards campaigns to express our deep apologies and sincere thanks to our community,” said the OKEx team said.

Although closed with retreats, his community was nothing but loyal – just not out of choice.