OKEX - Withdrawal issue!

[Danumsigwasan]

Hello guys, I am sure most are aware of the OKEx issue that started yesterday, so what do you guys feel about it?

Anyone having funds there??

[eaLiTy]

I am not following the drama completely that is going on but, saw the social media buzz about the withdrawals and then came to understand that the owner is under investigation by the authorities, but there is no idea about the nature of the investigation nor i could not understand the logic behind locking the user withdrawals citing security reasons.

[Fatemablabla]

Till the last update I know Okex said they don't know the exact time when the withdraw will be opened also didn't said what is the investigation team doing with the owner. I hope the problem solves in next 24-48 hours. Otherwise BTC might be dumped.
For more information: https://decrypt.co/45391/no-timeline-resuming-bitcoin-withdrawals-okex

[Danumsigwasan]

This is the WORST thing one can imagine any exchange doing. They have given NO updates. They banned many people from Telegram, who tried to ask the reason. I myself tried asking what is the connection between locking funds and investigation, but I too was dumped from the group.

No matter what happens ahead, I have not seen a more CARELESS and ARROGANT support service!

[Rengga Jati]

Hello guys, I am sure most are aware of the OKEx issue that started yesterday, so what do you guys feel about it?

Yes, the issue about "suspended digital asset withdrawals temporarily" as seen on their official announcement site

In this case, they ensure and guarantee that the funds are safe, the other operations are also still normal as stated below:

As of 3:00 am UTC today, Oct. 16, OKEx has suspended digital asset withdrawals temporarily.* We would like to assure users that the security of funds on OKEx has not been affected. Additionally, all other operations on OKEx are functioning normally.

The problem may be started by this issue:
https://twitter.com/whale_alert/status/1317115833513070596

However, their chief economist has a very simple clarification replying the tweet that the origin wallet of that transfer is not from OKEX, that was mislabeled. Read it here
However, they don't provide the details about what happen and the clear information about that. It is still under-investigation.

Well, related to this case, there are some cases that I can take:
1. The issue about withdrawal suspened.
Well, this is weird because withdrawal function is very important thing to be used by users of exchanges. We may all face the problem because of this issue:
- If we are doing daily arbritage, it means that we can't do it again dring the suspend. of course, some people may be mad about this, but there nothing we can do or force
- If we really need the funds on OKEx to withdraw and we need it for emergency and we still can't withdraw it, it will give another problem in our life.
- The worries if our funds are probably not safe, or cannot be withdrawed for uncertain period or worse forever. We will accuse it as scam.

2. They guarantee our funds are safe, this is a very important thing. Because if they don't state thing like that, I personally will feel very worried about it. As long as it is guaranteed, I will think positively to them.

So, please be pateint more let their team working and investigating the issue. We may not know what they are doing for investigation. But you are true that we need an update. The customer support there doesn't have power to force, they only tell us about what they can tell and explain. They may not be able also to give certain confirmation if they don't have the exact confirmation from the related team.

Hopefully, this issue is clear and withdrawal feature is opened again.

[Baofeng]

There is a discussion in the exchanges board: OKEx Suspends Withdrawls, much better if you could lock this thread, bottom left corner.

[Danumsigwasan]

There is a discussion in the exchanges board: OKEx Suspends Withdrawls, much better if you could lock this thread, bottom left corner.

Done, thank you