Bitcoin

OKEx users remove their cryptocurrencies from the exchange when withdrawals resume

After all user withdrawals have been suspended for five weeks, OKEx cryptocurrency exchange resumed its services on November 26th at 8:00 a.m. UTC.

After the reopening announcement last week, OKEx stated that it is starting a compensation and reward program Thank customers for holding out during the outage.

These programs include Commission Refund Cards in Tether (USDT), a one-time compensation payment based on the asset and transaction histories of the users and a doubling of the calculation of the asset weight for holders of the exchange’s native token, OKB.

OKEx users remove their cryptocurrencies from the exchange when withdrawals resume
OKEx users remove their cryptocurrencies from the exchange when withdrawals resume

Despite these efforts, today’s data shows this The programs weren’t enough to prevent users from withdrawing their fundsapparently having lost confidence in the exchange.

While the retreat wasn’t open long, Some insightful early data emerges on social media transaction trackers. Mason Jang, COO of Crypto Quant, tweeted:

More Data CryptoQuant shows that “The first OKEx outflow after the opening reached 2,822 BTC in the block time frame.”what “the maximum of the year in the block time frame” is:

Total Bitcoin outflow for 10 days at OKEx. Source: Twitter

The cryptocurrency tracking service, Whale alert, to persecution at least a few high quality transactions within an hour of opening withdrawals::

As reported OKEx suspended withdrawals on October 16, while one of the exchange’s private key holders was collaborating on an investigation led by the authorities and therefore Transactions within the active wallet system could not be authorized.

The exchange claims that it was not involved in any illegal activityalthough there were reports that its founder, Star xu, The same week he was questioned by the police.

The sudden suspension of withdrawals in mid-October caused significant volatility in the markets at the timethat caused a 3% drop in the trading price of Bitcoin (BTC).

If the exits from the exchange to other exchanges and purses continue, Bearish sentiment is circling the market. The BTC / USD pair just lost support at USD 17,000 and reported its biggest losses since March.

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