Share this article
OKEx Founder Incommunicado While Assisting in Investigation: Report
Caixin sources said Mingxing "Star" Xu had been 'taken' by authorities at least a week ago and hasn't been seen since.
Updated Jun 26, 2023, 4:46 p.m. Published Oct 16, 2020, 10:16 a.m.
A founder of the OKEx cryptocurrency exchange has become unreachable while assisting police in an investigation unrelated to the exchange, according to Chinese news source Caixin.
- In a report on Friday, Caixin said it spoke to two individuals close to OKEx who indicated that Mingxing "Star" Xu had been "taken" by police at least a week ago.
- The report isn't clear exactly where this occurred; OKEx has a headquarters in Hong Kong while being officially based in Malta.
- The news comes soon after CoinDesk reported earlier on Friday that OKEx has suspended cryptocurrency withdrawals, citing the absence of an unnamed holder of the exchange’s private keys.
- While the notice did say the individual is "cooperating with a public security bureau in investigations,” OKEx CEO and co-founder Jay Hao said on Weibo the issue is over a personal matter and wouldn't affect the business.
- Although Caixin's report suggested Xu is the individual linked to the exchange's withdrawal issues, another report from media source Mars Finance later in the day suggested otherwise.
- Mars Finance sources said Xu may be being held to help an investigation into the backdoor listing of OK Group in Hong Kong in 2019 and is not related to the exchange's withdrawal issue.
- OKEx also said in a statement Xu has not been involved with OKEx for some time and works within the separate entities OK Group and OK Coin.
- Mars Finance also said two executives who had been held along with Xu have been released on bail, though it isn't clear which firm they are linked to.
- Xu was previously held by police as part of a fraud investigation back in 2018, but was not arrested.
- As the OKEx news broke Friday, cryptocurrency prices took a dive, with bitcoin dropping around 3% in half an hour.
Update (13:17 UTC, Oct. 16): This article has been updated with information from Mars Finance and OKEx, and the headline changed.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Correction (17:45 UTC, June 26, 2023): The article has been correct to clarify that Xu's disappearance was due to his assisting authorities with an investigation unrelated to OKEx.
Also read: OKEx Suspends Withdrawals, Says Key Holder Not Available Due to Cooperation With Investigation
Lebih untuk Anda
Yang perlu diketahui:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up
Early PeerDAS performance is proof that the Ethereum Foundation can now ship complex networking improvements at scale.
What to know:
- Ethereum co-founder Vitalik Buterin said that the network is addressing its lack of peer-to-peer networking expertise, highlighting the progress of PeerDAS.
- PeerDAS, a prototype for Data Availability Sampling, is crucial for Ethereum's scalability and decentralization through sharding.
- BitMine Immersion Technologies has significantly increased its Ethereum holdings, viewing it as a strategic investment in the network's future scaling capabilities.
Top Stories
