OKEx dismisses fraud allegations against founder Xu Mingxing


The cryptocurrency platform OKEx is dismissing rumours that its founder is facing fraud charges due to his dealings on the trading platform. (China Money Network)

Earlier, Chinese Haidian Municipal People’s Court stated that Xu Mingxing had aided in stealing from the platform and might be charged for illegal business (Sina).

OKEx is an exchange located outside of the country but operated and managed in China.

According to Article 7 of the Chinese Criminal Law, restriction shall apply to the crimes committed by Chinese citizens outside of the country, so it also constitutes a crime.

OKex is an exchange concentrating on futures trading, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS.

OKCoin said in a statement the allegations against Xu Mingxing were false.

“Xu has never faced any charges or investigations initiated by district police authorities.”

Andy Cheung, head of operations at OKEx, urged people on Twitter to fact-check and keep an open and critical mind.

Andy Cheung OKEx (not giving away OKB) on Twitter

Belief comes quickly and naturally, skepticism is slow and unnatural, and we all have a low tolerance for ambiguity. But we should always check facts and identify information sources before believing in anything.

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