OKEx to Reopen Withdrawals By November 27

Source: Adobe / dennizn

Big crypto exchange OKEx confirmed that it will reopen “unlimited withdrawals” on or before November 27th.

“One of OKEx’s private key holders has completed assisting the authorities with a previously mentioned investigation. During this investigation it was confirmed that OKEx was not involved in any wrongdoing or illegal activity and the private key holder has now returned to normal business functions, ” the Company said.

It is claimed that 100% of user funds can be withdrawn without any restrictions after the withdrawals are reopened.

“At the same time, we will be launching significant user loyalty rewards campaigns to express our deep apologies and sincere thanks to our community,” they added, promising more details over the next few days.

As reported, OKEx suspended crypto-asset extraction on October 16 because one of its private key holders “collaborated on an investigation with a public security bureau” and the company had “no contact” with the holder.

Now the company realized that it had not considered other specific scenarios such as: B. that private key holders are no longer included in their emergency plan due to unforeseen circumstances.

OKB, OKEx’s native token, rallied earlier today over unreported reports that withdrawals may resume soon. At pixel time (12:11 UTC) OKB is trading at USD 5.7 and is up 14.5% in one day and 18% in a week.

The 24-hour trading volume on OKEx reached USD 1.26 billion today.