On October 16 at noon, OKEx announced a "temporarily suspension of coin withdrawal". OKEx explains that some employees who are in charge of the company's private keys are cooperating with the Chinese police for investigation, but actually the one got taken away is its founder Star Xu. Revealed by Caixin, the most reputable media in China. OKEx is disconnected with them, so the exchange cannot complete the authorization. Therefore, starting from 11:00 (HK time) on Oct 16, 2020, OKEx would suspend users' coin withdrawals. The announcement also said that "other functions of OKEx are guaranteed to be normal" and "the safety of assets is not affected". But, at first, the time to stop withdraw service was "15:00 HK time ", then it is was advanced by one hour to 11:00. According to Whale alert, there were 3 large transaction records appeared in OKEx address 3 hours before the announcement. Two sources who are close to OKEx told the most reputable media in China that the one who is in charge of private keys and was taken by the police is the FOUNDER of OKEX, Star Xu. Xu had been taken away by the police at least A WEEK ago and has been absent in workgroup chat. One source said, "Would Xu not have the private key in his hands?" Talking about the subsequent development of the platform, he said, Star Xu has been running the company's financial expenditure management meticulously, if he can not authorize the daily operation, it will affect the various expenses as well as the authorization of withdrawing coins, "(unless) to find connections to see him personally to get authorization". Jay Hao, the CEO of OKEx, responded on Weibo, saying, "It belongs to the private key manager's personal problem, and he temporarily stopped withdrawing coins." Since founding OKEx, Star Xu has been formally investigated for the first time, despite the "DDT" incident with human rights activists, and OKEx is one of the industry's most government-focused companies. ... https://www.youtube.com/watch?v=1fqow54avuc

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