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October 31, 2020
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OKEx has more than 200,000 bitcoins, show data

Final amount ends up varying from one data provider to another, but amount calls attention to how much is temporarily inaccessible.

Data show that the famous cryptocurrency exchange OKEx – which has suspended withdrawals indefinitely with one of its strongmen being “inaccessible” while “cooperating with authorities in investigations” – has more than 200,000 bitcoins in its wallets. That amount is currently valued at more than $ 2.2 billion.

Glassnode revealed information saying that 1.1% of the circulating BTC offer is stored under the broker’s possession. It is worth saying that OKEx is one of the leading brokers in the market, along with Binance, Huobi and Coinbase.

Data from another provider, ChainInfo, point out that OKEx has a total of 276,184 BTC spread across 339,297 different addresses on the Bitcoin blockchain. The total amount is equivalent to about $ 3.1 billion, which is apparently out of reach.

What the exchange says

As already published, OKEx posted a statement saying that the holder of its private key is “inaccessible” by the company, preventing withdrawals from being processed. The announcement adds that other functions at the exchange remain stable and that the security of users’ assets has not been affected. Withdrawals are scheduled to resume “as soon as the said holder of the private keys is able to authorize the transaction.”

OKEx CEO Hay Hao said on social media that all other OKEx operations continue to function normally and that the funds are safe. According to him, the investigation “has to do only with a personal problem of a certain private key holder.”

Additional announcements are expected as the situation develops. In a note, the cryptocurrency exchange further ensured that it will continue to “make evident its commitment to delivering the highest quality products and services to users and to express thanks for the patience and support shown at the time.”

Hao further said:

We understand that the withdrawal of withdrawals directly impacts the experience of our users at OKEx and we are deeply sorry for that. All other activities – including deposits, trading on the spot market, derivatives, staking, etc. – remain active and we would like to offer our word to all our clients that their funds are safe.

We can only wait and watch this unfold.

Source: Cryptoglobe

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