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Overseas KOL Calls to Stay Away from OKX
OKX CEO Clarifies
Community Fears Becoming Victims of “Poisoning”
Today, an overseas KOL named Satoshi Friends posted a tweet on X, indicating that starting from May 2024, the policy of OKX exchange regarding users from the Commonwealth of Independent States (CIS) countries has undergone a drastic change, resulting in the official blocking of his account.
Additionally, he pointed out that KOLs recommending OKX exchange may not only face financial risks but could also encounter reputational risks. Other KOL friends of his have experienced similar issues, including account blockages and withdrawal restrictions. Hence, he urged the public to withdraw all funds from OKX exchange immediately and to cease using the platform permanently.
In response to Satoshi Friends’ post, OKX CEO Xu Mingxing clarified on social media that the blocking of Satoshi Friends’ account is unrelated to his CIS identity, but rather due to violations of the platform’s sanctions control policies. Xu Mingxing explained:
“You have several significant transactions related to sanctioned exchanges or decentralized finance (DeFi) protocols. We allowed you to withdraw your ‘clean’ funds before your account was blocked. You requested to set up a new account and transfer your data from the old account to the new one. We really cannot do that, as it would circumvent our compliance policies.”
Furthermore, Xu Mingxing stated that OKX will not provide services to any individuals or entities listed on the SDN blacklist. He also emphasized that if the platform’s sanctions control mechanism is triggered due to customer deposits or withdrawals from “sanctioned exchanges or DeFi protocols (such as Garantex or Tornado Cash),” the OKX compliance team may freeze the relevant funds and cancel the account. Xu Mingxing sternly warned:
“Anyone who deposits into OKX from Tornado Cash, or withdraws from OKX to Tornado Cash, will trigger account termination; no one is exempt.”
However, this statement has raised concerns within the community, as there have been numerous cases of large-scale “poisoning” conducted via Tornado Cash in the past, where a minimal amount of “contaminated assets” was sent to others’ wallet addresses, causing those individuals to be flagged as warning accounts.
In response, Xu Mingxing stated that each case will be thoroughly investigated by compliance officers, and if it is indeed a passive poisoning incident, it will not affect the user’s account usage. Nonetheless, due to the diverse nature of such poisoning attacks and the lack of transparency in OKX’s judgment criteria, many still hold a skeptical attitude towards the risk control mechanisms of OKX
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