Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Editorial Policy
    • Submit Press Release
  • Disclaimer
  • Bitcoin (BTC)
  • Cryptocurrency
  • News

Bitcoin (BTC) Worth $2.3 Billion Remain Frozen As OKEx Investigation Continues

Tobi Loba October 17, 2020 2 min read
MicroStrategy Completes $500 Million Offering, Plans More Bitcoin (BTC) Purchase

According to the estimation of researchers, about $2.3 billion worth of Bitcoin (BTC) has remained frozen, due to the ongoing public security bureau investigation, which the crypto exchange based in Malta, OKEx, has been subjected to over the past few days.


trade now

Users of the cryptocurrency exchange have not been allowed to execute any withdrawal and the reason why this persists remains unclear.

Caixin, a China-based media group earlier reported that Xu Mingxing, the founder of the cryptocurrency exchange OKEx, was arrested by the police about a week ago.

Read Also: Crypto Exchange Kraken Becomes a United States Bank

Based on the accounts of two anonymous sources close to OKEx, the unavailability of Mingxing is the major reason behind the frozen funds, which currently prevents users from initiating withdrawal on the crypto exchange.

The press release published by OKEx regarding the issue reads as follows:

“One of our private key holders is currently cooperating with a public security bureau in investigations where required. We have been out of touch with the concerned private key holder. As such, the associated authorization could not be completed.

Pursuant to 8.1 Service Change and Interruption of the Terms of Service, OKEx may change the Service and/or may also interrupt, suspend or terminate the service at any time with or without prior notice.

In order to act in the best interests of customers and deliver exceptional longtime customer service, we have decided to suspend digital assets/cryptocurrencies withdrawals as of [October 16, 2020, at 11:00 (Hong Kong Time)].”

Read Also: Justin Sun Shares New Update about the Distribution of SUN Tokens to the Community

Jay Hao, the CEO of the crypto exchange under investigation, took to Twitter about two days ago to reassure users about the safety of their funds:

“All operations OKEx except digital asset/cryptocurrency withdrawals remain unaffected. All your funds and assets are safe. The investigation concerns a certain private key holder’s personal issue only. Further announcements will be made.”

Glassnode, a popular on-chain analytics platform reveals that OKEx presently holds hundreds of thousands of Bitcoin (BTC) worth more than $2 billion.

“According to our data, around 200,000 BTC (1.1% of the circulating Bitcoin supply) are currently held in OKEx wallets. That is around $2.3 billion worth of $BTC stored in the exchange’s vaults.”

Join us on Twitter

Join us on Telegram

Join us on Facebook

Trade Now

Continue Reading

Previous: Coinbase Custody Exploring VeChain (VET), Tron (TRX), and 35 Other Crypto Assets
Next: Ripple Survey Reveals Huge Interest in Bitcoin, Ethereum, XRP among Payment Professionals

Related Stories

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
2 min read
  • Blockchain
  • Cryptocurrency
  • Terra (LUNA)

Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain

May 25, 2022
Grayscale Is Planning On Listing Its First European Exchange Traded Fund
2 min read
  • Cryptocurrency
  • ETF (Exchange Traded Fund)
  • News

Grayscale Is Planning On Listing Its First European Exchange Traded Fund

May 25, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$29,638.00
-0.44%
ethereum
Ethereum (ETH)
$1,922.92
-3.08%
tether
Tether (USDT)
$1.00
0.00%
binancecoin
BNB (BNB)
$319.42
-3.62%
usd-coin
USD Coin (USDC)
$1.00
-0.01%
ripple
XRP (XRP)
$0.402928
-1.38%
Binance USD
Binance USD (BUSD)
$1.00
-0.13%
cardano
Cardano (ADA)
$0.50
-3.03%
dogecoin
Dogecoin (DOGE)
$0.081149
-2.99%
polkadot
Polkadot (DOT)
$9.62
-3.80%

Recent Posts

  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?
  • PancakeSwap Guide 2022 – Everything You Need To Know About This DEX
  • Polkadot-based Smart Contract, T3rn Deploys Latest Testnet
  • Uruguayan Authorities Launch Campaign Against Crypto Scams
  • GameStop Announces The Launch Of A Crypto Wallet
  • Litecoin To Be Delisted Out Of Major Crypto Exchanges
  • Here’s Why Bitcoin’s Price Might Rise Above $30.6K
  • RBI Governor Reiterates Negative Stance On Crypto

Disclaimer

This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. Information found on Herald Sheets represents those of writers quoted. It does not represent the opinions of Herald Sheets on whether to buy, sell, or hold any investment assets. Investors must do their own research before investing their money and only do so at their own risk.

Categories

You may have missed

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
3 min read
  • Cryptocurrency Brokers News and Reviews

CharterPrime Review – Is CharterPrime Scam or a Proper Broker?

May 25, 2022
Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
2 min read
  • Blockchain
  • Cryptocurrency
  • Terra (LUNA)

Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain

May 25, 2022
Grayscale Is Planning On Listing Its First European Exchange Traded Fund
2 min read
  • Cryptocurrency
  • ETF (Exchange Traded Fund)
  • News

Grayscale Is Planning On Listing Its First European Exchange Traded Fund

May 25, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%