Share this article
OKEx Denies Investigation of Founder Star Xu Is Related to Money Laundering
OKEx has denied the ongoing investigation of its founder is related to an anti-money laundering investigation.
By David Pan
Updated Sep 14, 2021, 10:10 a.m. Published Oct 16, 2020, 1:57 p.m.
OKEx is denying the ongoing inquiry of its founder is related to an anti-money laundering (AML) investigation in China.
STORY CONTINUES BELOW
“We are not at liberty to discuss any matters that are under investigation but can reveal that it is not related in any way to AML or to OKEx,” a spokesperson from the exchange told CoinDesk.
The exchange informed its users it would suspend crypto withdrawals at 03:00 UTC on Friday and claimed a key holder, later revealed to be OKEx founder "Star" Xu, was out of touch and cooperating with the police for a personal issue.
The exchange might have violated anti-money laundering regulations with more than 800 accounts and large amounts of money involved in the case, state media Security Times reported, citing unnamed sources.
“As a Malta-based company, OKEx constantly strives to meet compliance in all jurisdictions in which we operate,” the exchange's spokesperson said.
In January, the People’s Bank of China announced a sweeping inspection on money laundering activities from non-banking institutions soliciting transaction data once they are found to have violated related regulations.
More For You
What to know:
- 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
State of Crypto: Policymakers Dominated Most Influential 2025
CoinDesk is unveiling its annual list of the individuals who have shaped the crypto industry and the discourse around it this year.
Top Stories
