Malta-based cryptocurrency exchange OKEx has reopened withdrawals five weeks after an abrupt suspension.
In a short blog post on Thursday, the exchange announced that it was lifting the freeze at 08:00 UTC and pointed users to a compensation and loyalty program in an attempt to appease disgruntled users.
On Oct. 16, OKEx had been forced to suspend all account withdrawals when an unnamed holder of the keys to the cryptocurrency assets was detained by police to apparently assist an investigation.
A report in the Chinese newspaper Caixin said the key holder was the founder of OKCoin and CEO of OK Group Mingxing “Star” Xu, based on sources “close" to the company.
However, OKEx representatives have denied any connection between the two when asked by CoinDesk.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.