Dear OKX Users,
First, we sincerely apologize for the temporary suspension of withdrawals on the OKX platform due to unforeseen circumstances. The issue has now been resolved, and our team has returned to full operational capacity.
Key Updates
- Withdrawal Reactivation: Free withdrawals will resume by November 27 (HKT) following rigorous security checks to ensure the stability of our hot wallet system.
- 100% Reserve Assurance: OKX maintains full reserves at all times, eliminating any risk of fund shortages.
- User Compensation: We’ll launch exclusive rewards for both new and existing users as a gesture of goodwill. Details will be announced soon.
Security Measures
OKX employs industry-leading protocols to safeguard assets:
Hot Wallet Technology
Multi-Signature & Semi-Offline Signing: Transactions require multi-layered verification, including:
- Real-time risk detection.
- Semi-offline signature processes (immune to network attacks).
- 2-of-3 multi-signature authorization (private keys stored exclusively in volatile memory).
Withdrawal Workflow
- User initiates withdrawal → System performs anomaly detection.
- Approved transactions are routed to the Vault System for unsigned draft creation.
- Semi-offline servers sign the transaction after additional risk screening.
- Signed transactions are broadcasted to the blockchain.
Note: If risk checks fail, signing is delayed to prevent mass unauthorized withdrawals.
Incident Transparency
The withdrawal pause resulted from a temporary inability to authorize one private key. While OKX’s backup mechanisms cover long-term absences of key personnel, this short-term lapse prompted immediate protocol reviews. We’re enhancing key management to prevent recurrence.
👉 Explore OKX’s Wallet Security
Compliance and Future Commitments
OKX adheres to global regulations with strict KYC/AML frameworks. We remain dedicated to:
- Advancing blockchain adoption.
- Investing in compliant, user-centric products.
Thank you for your trust. We’re committed to delivering exceptional service.
FAQs
Q1: When will withdrawals fully reopen?
A: By November 27 (HKT), pending final security audits.
Q2: Are funds safe during the suspension?
A: Yes. OKX uses 100% reserves and cold storage for all assets.
Q3: How does semi-offline signing improve security?
A: It isolates private keys from online systems, blocking remote hacks.
Q4: Will affected users receive compensation?
A: Yes. Reward programs will be announced within days.
Q5: What caused the withdrawal halt?
A: A temporary gap in private key authorization. Backup protocols are being reinforced.
👉 Join OKX’s Community for Updates
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