OKEx is denying that the continuing investigation of its founder is said to an anti-money laundering investigation.
“We aren’t at liberty to debate any issues which are below investigation however can reveal that it’s not associated in any technique to AML or to OKEx,” a spokesperson from the trade instructed CoinDesk.
The trade knowledgeable its customers it could droop crypto withdrawals at 03:00 UTC on Friday and claimed a key holder, later revealed to be OKEx founder “Star” Xu, was out of contact and cooperating with the police for a private difficulty.
The trade may need violated anti-money laundering laws with greater than 800 accounts and huge quantities of cash concerned within the case, state media Safety Occasions reported, citing unnamed sources.
“As a Malta-based firm, OKEx continuously strives to fulfill compliance in all jurisdictions by which we function,” the trade’s spokesperson mentioned.
In January, the Folks’s Financial institution of China introduced a sweeping inspection on cash laundering actions from non-banking establishments soliciting transaction knowledge as soon as they’re discovered to have violated associated laws.