Skip to content
Subscriber Only

Chinese Crypto Mogul Emerges After Probe That Forced OKEx Halt

  • OKEx founder Star Xu posts that police found him innocent
  • The exchange to start allowing withdrawals before Nov. 27
Updated on

The founder of one of the world’s largest Bitcoin exchanges broke a month-long silence to proclaim his innocence Friday, making his first comments since a Chinese police probe forced OKEx to briefly suspend withdrawals of all cryptocurrency assets.

Xu Mingxing posted on a private social media feed he had been cooperating with an investigation into an equity merger his blockchain company OK Group completed years ago. The founder, who also goes by Star, said the investee was the target of a “complicated” legal case, without elaborating. Shares in listed affiliate OKG Technology Holdings Ltd. soared as much as 23% Friday in Hong Kong.