OKEx has denied the ongoing inquiry of its founder being involved within an AML [Anti-money laundering] investigation in China.
“We aren’t at liberty to debate any matters that are under investigation but can reveal that it’s not related in any links to AML or to OKEx,” a spokesperson from the exchange added.
The exchange informed its users it might suspend cryptocurrency withdrawals at 03:00 UTC later on Friday and claimed a key holder, later revealed to be OKEx founder “Star” Xu, was out of touch and cooperating with the police for some private issue.
The exchange might have violated AML [anti-money laundering] regulations with over 800 accounts and enormous amounts of cash involved within the case, state media Security Times reported, citing anonymous sources.
“As a Malta-based firm, OKEx constantly strives to satisfy compliance altogether jurisdictions within which we operate,” the exchange’s spokesperson added.
Earlier in January, the People’s Bank of China announced a sweeping inspection on money laundering activities from non-banking institutions soliciting transaction data once they’re found to have violated related regulations.