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Overseas KOL Calls for Avoiding OKX
OKX CEO Clarifies the Situation
Community Worries About Becoming “Poisoned” Victims
Today, an overseas KOL named Satoshi Friends posted a tweet on X, stating that since May 2024, OKX exchange has undergone a dramatic change in its user policy towards users from the Commonwealth of Independent States (CIS) countries, and as a result, his account has been blocked by the official authority.
Furthermore, he pointed out that KOLs who recommend OKX exchange may not only bear financial risks but also face reputational risks. His other KOL friends have also encountered similar issues, including blocked accounts and restricted withdrawals. Therefore, he urges the public to immediately withdraw all funds from OKX exchange and permanently stop using the platform.
However, in response to Satoshi Friends’ post, OKX CEO Xu Mingxing also clarified on the community platform that Satoshi Friends’ account was blocked not because of his CIS identity, but because Satoshi Friends’ account violated the platform’s sanction control policy. Xu Mingxing explained:
“You have several important transactions related to sanctioned exchanges or decentralized finance (DeFi) protocols. We allow you to withdraw your ‘clean’ funds before your account is blocked. You requested to set up a new account and transfer your data from the old account to the new one. We really can’t do this because it would bypass our compliance policy.”
Furthermore, Xu Mingxing further stated that OKX will not provide services to any individuals or entities on the SDN blacklist. Additionally, Xu Mingxing emphasized that if the platform’s sanction control mechanism is triggered due to customers depositing or withdrawing from “sanctioned exchanges or decentralized finance protocols (such as Garantex or Tornado Cash),” OKX’s compliance team may freeze the related funds and cancel the account. Xu Mingxing sternly warned:
“Anyone who deposits from Tornado Cash to OKX or withdraws from OKX to Tornado Cash will trigger an account closure, and no one will be exempt.”
However, this statement has also raised concerns in the community, as there have been many cases in the past where large-scale “poisoning” incidents occurred through Tornado Cash, where a minimal amount of “contaminated assets” were sent to other people’s wallet addresses, resulting in others being flagged as warning accounts.
In response to this, Xu Mingxing stated that each case will be thoroughly investigated by compliance officers, and if it is indeed a passive poisoning, it will not affect the use of user accounts.
However, due to the various methods of poisoning attacks and the lack of transparency in OKX’s risk control mechanism, many people still hold a skeptical attitude towards OKX.