Cryptocurrency exchange OKEx has revealed that it’ll resume withdrawals from 27th November 2020, following a short-lived suspension that began on 16th October.
The halt on withdrawals came when the exchange’s founder, Xu Mingxing, was removed by the police. The temporary absence of withdrawals was a serious point for the Chinese cryptocurrency community, but now, the main exchange is about to resume normal business practices.
“Presently, within one among OKEx’s private key holders has completed assisting the authorities in a previously referenced investigation,” OKEx added within a prepared statement, adding that the exchange “will, therefore [reopen] unrestricted withdrawals by 7th Nov. 2020.”
The decision to halt withdrawals at the time was due to the above-referenced investigation. On 16th Oct., OKEx issued a press release adding:
“In order to act within the best interests of users and deliver exceptional longtime customer service, we’ve decided to suspend digital assets/cryptocurrencies withdrawals.”
The earlier couple of weeks were a tumultuous time for the Chinese cryptocurrency community. Ding Han, director of overseas marketing at BTC.TOP and B.TOP added these events “caused panic among Chinese cryptocurrency enthusiasts.” This is often because OKEx is one of the major cryptocurrency exchanges in use within China.