Jay Hao, CEO of Malta-based cryptocurrency alternate OKEx, has pledged that his agency has taken steps to make sure that the problem that brought a
Jay Hao, CEO of Malta-based cryptocurrency alternate OKEx, has pledged that his agency has taken steps to make sure that the problem that brought about an over five-week freeze of cryptocurrency withdrawals can not reoccur.
In an ask-me-anything session, a transcript of which was printed on Wednesday, Hao mentioned the incident led the alternate “to make a number of enhancements in our inside processes.”
“I believe that the incident highlighted a number of crucial factors. It uncovered some weaknesses in our inside processes, which we are actually steadfast in correcting,” he mentioned.
The CEO pressured that person funds had by no means been in jeopardy and that OKEx maintains backups of the crypto personal keys. He didn’t clarify why they couldn’t be used on this incident, nonetheless.
On Oct. 16, OKEx had been pressured to halt withdrawals because of one of many key holders being held by authorities and “cooperating” with an investigation. The alternate managed to renew the service on on Nov. 27, with OKEx saying the keyholder had been launched and had not been concerned in any wrongdoing or unlawful actions.
Within the AMA, Hao acknowledged that the problem was dangerous for the corporate and that buying and selling has dropped in consequence. He additional apologized to clients for the uncertainty, inconvenience and stress attributable to the occasion.