The cryptocurrency exchange giant OKEx had to suspend deposits and withdrawals of all cryptocurrencies due to a brawl involving its investors and users almost a month ago. To users’ relief, the crypto exchange has now enabled its deposits and withdrawal service. Chinese reporter on Twitter Colin Wu noted that “OKEx has reopened the legal currency deposit and withdrawal channels.” He further noted that crypto could be sold to OTC merchants for CNY within the exchange at a 20% lower price than on Binance.
The exchange denied rumors of being under investigation.
At the time Wu confirmed the news, crypto could be sold to OTC merchants for CNY within the exchange at a 20% lower price than on Binance. This indicated the prevailing perception among users about the exchange to resume its services to normal soon. As the news about the investigation gained momentum, the crypto exchange had claimed the chatter about detainment as rumors in a public update. The crypto exchange noted: “Claims that a concerned party related to OKEx is under criminal detention have been refuted — we can confirm that these are rumors.”
China cracks down on crypto exchanges ahead of the digital yuan launch.
The Chinese authorities are cracking down on crypto exchanges ahead of the digital yuan launch. A popular Chinese cryptocurrency journalist, Colin Wu, earlier reported that the local cryptocurrency exchange TokenBetter users could not take their money back. The local crypto exchange blocked withdrawals amid the investigations by the police in Sichuan province. As reported earlier, OKEx had suspended withdrawals on October 16, citing that the private key holder was working with the law enforcement authorities.