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Academy OKX Press room Article

OKX to resume withdrawals after the temporary suspension

2020.11.19 OKX Public Relations

Malta, Nov. 19, 2020 — OKX (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce that withdrawal services of all digital assets will be resumed on or before Nov. 27. As a security measure to safeguard users’ funds, withdrawals from the exchange were temporarily suspended on Oct. 16, with all other functions on the platform remaining unaffected. The issue that triggered OKX to deploy the extraordinary security measure has since been resolved. 

Despite guaranteeing the safety of user assets throughout the suspension period and ensuring a continuity of service across all other functions of the exchange, OKX is aware that the temporary suspension of withdrawals has caused inconveniences for its customers. Since its inception, OKX has always insisted on maintaining 100% reserves, meaning that all user funds can be withdrawn without restriction after withdrawals are reopened.

In order to thank its loyal customers for their continued support and to apologize for the interruption of service, OKX will be launching significant user loyalty reward campaigns in tandem with the reopening of withdrawals. The details of these will be announced in the coming days across OKX’s multiple communication channels.

“We are extremely pleased to be able to announce the return of a full service for our users and would like to thank them for their continuous support during this difficult time. We apologize for the inconvenience caused and know that we must continue to work diligently to restore their confidence,” said OKX CEO Jay Hao.

“Offering loyalty rewards is one small way that we can give back to OKX users but we assure them that we will continue to uphold our commitment to excellence, innovation, diversity of service, and the safety of user assets, which has always been our first and foremost priority.”

As one of the world’s largest cryptocurrency exchanges, OKX strives to provide the best user experience to its global user base by continuously improving the features of the exchange. This includes expanding its diverse product offering and extensive suite of trading tools to meet the ever-changing needs of its users as well as new developments in the rapidly evolving market.

OKX has grown in size and stature since its inception, frequently recognized as the world’s number-one cryptocurrency derivatives exchange by numerous reputable sources, including skew and CoinDesk. Thanks to its constant push for innovation and ongoing commitment to its users, traders on the OKX platform can execute diverse trading strategies, allowing them to maximize profits and hedge their risk. Users can also make their crypto work for them by staking various tokens, including the exchange’s adopted global utility token, OKB, to earn a passive income through various initiatives such as OKX Earn and OKX Jumpstart Mining.

“We will work tirelessly to ensure a smooth and rewarding experience for our users and continue to roll out innovative, industry-leading products and services. In the near future, we also look forward to serving more customers on our platform,” Jay Hao added.


About OKX

A world-leading cryptocurrency spot and derivatives exchange, OKX offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

Media contact

Email: [email protected]

Vivien Choi
Telegram: @vivienchoi

Andrea Leung
Telegram: @andrea_414

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Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.