Recently the users of OKEx  has found that they were not able to get the cash for the chip which they had done few days back. The reason was out very soon. And it was no one other tan the arrest of the founder of the cryptocurrency exchange. The Chinese CEO of OKEx  Crypto Exchange has been reported to be under arrest which of course has impacted several users as well. 

Mingxing Xu who is also popular by the name of Star Xu is said to be questioned by the team of officers. The news has been leaded by the agency of Chinese news called Caixin. Right after it was relapsed in China, this news has spored across the globe like a fire. Right after the news got released after the OEKx immediately created an order of “Suspension of Withdrawals” on its different platforms for the crypto assets. This means, the suer will not be able to get their money out. This has resulted to a quick fall of almots11% which surely is not a small thing at all. 

There are some of the company’s personal who have been cooperating with the whole investigation. Due to this investigation, the accounts have been shut from morning 11 in Hongkong. The company is said to have been also engaged in other functioning of OKEx  which is said to be normal and the securities of the assets will not long be affected. It is expected that the CEO shall be still investigated further in the backdoor listing for the OK group which was establishes in Hongkong in the year 2019 which is not associated with the issue of exchanges withdrawal. 

The arrest happened a week back but it did not come up for many days in front of the company. His name has also been in the fraud investigation associated with the case of the year 2018.