Cryptocurrency outflow on OKEx exceeded $ 110 million

by in Cryptocurrency News

OKEx

Cryptocurrency exchange OKEx recorded an outflow of more than $ 110M worth of cryptocurrencies within a few hours after resuming the withdrawal function.

According to analyst company CryptoQuant, 2,822 BTC was withdrawn 15 minutes after withdrawals were resumed on November 26. According to CryptoQuant CEO Ki Young Ju, 83% of these BTC went to addresses that are not associated with cryptocurrency exchanges.

At the same time, there was a significant influx of bitcoins to OKEx, which again raised the exchange's reserves to the same level as before the opening of the conclusions. The head of CryptoQuant said that these BTC were not internal exchange transfers, but user deposits.

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OKEx suspended withdrawals on October 16 due to the unavailability of one of the key holders. The media claimed that OKEx founder Star Xu was the key holder, but the exchange itself denied any connection with him.