Exchanges, Star Xu, OKEx

Mingxing “Star†Xu, founder of OKCoin and CEO of OK Group, has resurfaced after being detained by Chinese police.

According to a report by Bloomberg Thursday, Xu appeared on a private social media platform to post that he had been cooperating with an investigation relating to an equity merger that OK Group had finalized years prior.

The equity investee was the target of a “complicated†legal case, Xu said, choosing not to go into further detail. It remains unclear as to precisely to which deal he was referring.

“The authorities have clarified the matter and proved me innocent,†Xu wrote Friday on his WeChat feed, per Bloomberg’s reporting. “In coming days I’ll call on everyone who supported OK Group to express my gratitude.â€

As CoinDesk reported, the related Malta-based exchange OKEx was forced to suspend all account withdrawals on Oct. 16, it said, because an unnamed holder of the keys to the crypto assets had been detained. A report in Chinese newspaper Ciaxin said the key holder was Xu, based on sources “close to†the company.

Xu’s temporary detention and subsequent release closely coincides with the period the mystery key holder also became unavailable. The exchange said Thursday it would restart withdrawals by next Friday because the key holder had been released from “assisting the authoritiesâ€Â and “has now returned to his normal business functions.â€

OKEx has previously told CoinDesk that Xu has no direct relationship with the exchange. We reached out to OKEx again on Friday to gain clarity on Xu’s relationship and why he may be holding the keys if, as the facts suggest, that is the case.

“OKEx has been a separate entity from OK Group from 2017. Star therefore has not been in any kind of operation in OKEx. In the interests of user security, OKEx maintains all details about private key holders confidential, as such, we are unable to comment on this neither can we provide any comment on Star Xu,†a representative reiterated.

The exchange said in its announcement that it is preparing to allow “unrestricted withdrawals†by Nov. 27.

The withdrawals news has helped the exchange’s OKB token recover from a slump over the last month. OKB is now trading at $5.88, up around 23% since Wednesday.

RELATED NEWS

Binance Suspends Ethereum and ERC-20 Token Withdrawals Before Quickly Reversing Course

The rollercoaster-ride in cryptocurrency prices on Monday was accompanied by Binance’s fresh restrictions for ethereum and ERC-20 tokens. Ethereum Network Congestion Fingered as the Culprit for the Temporary Halt Through the official Binance Twitter account, one of the world’s largest cryptocurrency exchanges by volume, announced that it had “temporarily suspended withdrawals of $ETH and ethereum-based […]

Xem chi tiết: Binance Suspends Ethereum and ERC-20 Token Withdrawals Before Quickly Reversing Course

Privacy Coin Verge Suffers Third 51% Attack, Analysis Shows 200 Days of XVG Transactions Erased

According to various reports, the cryptocurrency network Verge has suffered a 51% attack that led to a massive 560,000+ block reorganization. Analysts believe the Verge network attack could be the deepest blockchain reorganization (reorg) in history with roughly 200 days worth of verge transactions wiped. Reports Show Verge Network Experienced a Massive 560,000+ Blocks Reorg […]

Xem chi tiết: Privacy Coin Verge Suffers Third 51% Attack, Analysis Shows 200 Days of XVG Transactions Erased

Bitcoin Futures Open Interest Smashes $15 Billion, CME Registers Over $33 Million in ETH Contracts

Following the revelation that Tesla now owns $1.5 billion in bitcoin, crypto spot markets across the board skyrocketed. Data shows that crypto derivatives markets also saw significant demand as bitcoin futures open interest tapped $15 billion on Monday. Moreover, this week was the start of ethereum futures on CME Group’s exchange, and ether-based futures registered […]

Xem chi tiết: Bitcoin Futures Open Interest Smashes $15 Billion, CME Registers Over $33 Million in ETH Contracts

Soaring Sell Orders Contrast Sharply with Bitcoin’s Renewed Bull Run

Alongside the cryptocurrency’s meteoric climb over the back half of 2020 and early 2021, a curious phenomenon has unfolded; heightened profit-taking and conversion to fiat currencies. Data collected by Simplex, a fiat-crypto gateway, underscores this seemingly paradoxical development. A Curious Race to Convert Crypto to Fiat Has Accompanied Bitcoin’s Latest Drive Higher Sharing exclusive data […]

Xem chi tiết: Soaring Sell Orders Contrast Sharply with Bitcoin’s Renewed Bull Run

Real-Time Blockchain-to-Everything Platform PARSIQ (PRQ) Now Listed on OKEx

PRESS RELEASE. PARSIQ, a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, announced that its PRQ token is now listed on OKEx with USDT base pair. Please take note of the following go-live schedule: PRQ Deposit : 07:00am January 28, 2021 (UTC) PRQ Spot Trading : PRQ /USDT: 10:00am January […]

Xem chi tiết: Real-Time Blockchain-to-Everything Platform PARSIQ (PRQ) Now Listed on OKEx

Report Claims Harvard, Yale, and Brown University Endowments Have Been Discreetly Buying Bitcoin

According to sources familiar with the matter, a number of Ivy League universities including the University of Michigan, Brown, Yale, and Harvard endowments have been discreetly purchasing cryptocurrencies. The prominent schools have been reportedly leveraging exchanges like Coinbase and other trading platforms. Prominent university endowments have been quietly purchasing digital currencies according to a report […]

Xem chi tiết: Report Claims Harvard, Yale, and Brown University Endowments Have Been Discreetly Buying Bitcoin

Crypto Derivatives Surge, Bitcoin Options Open Interest Climbs to $9.6 Billion

Bitcoin options open interest has reached $9.6 billion according to derivatives market data as the metric is nearing the high captured on January 7, 2021. Moreover, the aggregate open interest in bitcoin futures is steadily nearing all-time highs. While cryptocurrency spot markets have consolidated, bitcoin-based derivatives markets have seen continuous action. At the time of […]

Xem chi tiết: Crypto Derivatives Surge, Bitcoin Options Open Interest Climbs to $9.6 Billion

Kraken Users Are Staking More Than $1B in Crypto

More than $1 billion worth of cryptocurrencies have been staked through Kraken’s staking service, the crypto exchange announced on Tuesday. A third of that amount is in ether, roughly more than 300,000 ETH, according to a spokesperson from the San Francisco-based crypto exchange. Other popular cryptocurrencies on Kraken’s staking services include tezos (XTZ) and polkadot […]

Xem chi tiết: Kraken Users Are Staking More Than $1B in Crypto

Massive Exodus of Bitcoin Continues to Leave Exchanges, Over 87,900 BTC Withdrawn in 30 Days

Massive Exodus of Bitcoin Continues to Leave Exchanges, Over 87,900 BTC Withdrawn in 30 Days

Bitcoin Mining Machine Maker Ebang to Launch Crypto Exchange in 2021; Shares Rise

OKEx Launches Real-Time Settlement for Derivatives Trading

Bitcoin Derivatives Action Swells: A Few June Futures Trade for $30K, Deribit Adds $140K Options Strike

Coinbase, Other Big Exchanges ‘Between Rock and a Hard Place’ on Delisting XRP

XRP Crash Burns Other Crypto Asset Values, BTC Price Remains Unscathed

EXMO Exchange Now Says It Lost 6% of Total Crypto Assets in Monday’s Hack

Other Articles