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Asian cryptocurrency exchange Okex says peer to peer trading is now open but the freeze on withdrawals remains in effect. In an update, Okex CEO Jay Hao reveals that buying cryptocurrency via the fiat gateway is now active as well but he fails to give a timeframe for the resumption of withdrawals. In an earlier tweet, the CEO reassures customers that their funds are safe and that withdrawals will commence as soon as possible.
On Oct. 15, Okex announced the suspension of withdrawals of cryptocurrency after an unnamed private key holder was taken into custody by law enforcement. However, since the suspension of cashouts, reports have emerged alleging large BTC withdrawals just before the announcement of the freeze.
The Okex CEO has, however, issued statements dismissing such reports. Still, anxious Okex customers are expressing dissatisfaction with the exchangeâs failure to disclose details about the progress of the ongoing investigation.
On Twitter, users are venting their anger as they question the wisdom of the latest announcement that peer to peer trading is now open. One user named Maciek_sk queries the rationale of asking clients to continue trading when there is no option to cash out. In his reply to Haoâs tweet, the user explains:
There is no point in being active on the stock market from which you cannot withdraw your funds. It makes no sense. I am afraid it will lead to withdrawal from this platform.
Similarly, another user not only asks the same question but he also takes issue with the exchangeâs management of private keys. He asks:
Whatâs the point of trading when we canât even withdraw? and how the heck can one person result in Okex suspending withdrawals?
âAre you guys sh****g us or what? If you canât even guarantee the security of funds and continued service why even bother running an exchange?â the user continued.
Meanwhile, in a surprising move, Justin Sunâs Tron Foundation announced it will be enabling TRX holders with funds frozen on the exchange to cash out their tokens via a specially designated account.
It is not clear what prompted the move by the Tron Foundation although a statement on the organizationâs Medium page says they âhave decided to shoulder their major responsibility in the industry and give users access to the unlimited 1:1 withdrawal of TRX on Okex. This decision will take effect as soon as it is announced.â
According to the Tron Foundation, this campaign âintends to help TRX holders protect their assets.â
What do you think of Okexâs management of private keys? Tell us what you think in the comments section below.
The post P2P Trading Resumes on Okex While Withdrawals Freeze Still in Effect: Tron Foundation Announces Cashout Plan for TRX Holders appeared first on Bitcoin News.
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