Founder of Bitcoin Exchange OKEx: I Am Innocent

Bitcoin exchange OKEx founder Xu Mingxing broke his silence for the first time and claimed he was innocent of fraud allegations.

The founder of OKEx, one of the largest Bitcoin exchanges in the world, broke his silence against allegations of fraud. XU Mingxing spoke for the first time since the Chinese police forcibly suspended all withdrawals from the OKEx exchange. Xu Mingxing announced in a social media post that he collaborated with law enforcement in an investigation into a share consolidation move completed by blockchain company OK Group years ago.

Founder Xu said the investigation was about a “complex” litigation and that he was not guilty. After this announcement, the shares of OKG Technology Holdings increased by 23% in Hong Kong.

“My innocence has been proven”

Entrepreneur Xu statements came shortly after OKEx announced that the obstacle to withdrawal of funds will be lifted by November 27th. The exchange announced that on October 16, users’ withdrawals were stopped because an unidentified staff member cooperated in the police investigation. Days after this public announcement, it was learned that OKG was investigated by the Chinese police.

“The authorities have clarified the matter and proved my innocence,” Xu recently wrote on WeChat. “In the coming days, I will try to express my gratitude to all who support OK Group,” said Xu in this statement, which is only visible to certain users.

Inconsistent statements on the OK Group front

OK Group said in their previous statements that they are not subject to any government investigation. According to The Standard, a representative from OKG confirmed what Xu said on WeChat but declined to comment on the investigation or the merger. An OKEx spokesperson said OKEx is a separate entity from OK Group and did not comment on Xu.

OKEx announced yesterday that the problem that prompted OKEx to take these extraordinary measures has been resolved. After the withdrawals were reopened, it was said that all users can withdraw their funds without any restrictions.

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