With the recent problems OKEx customers have been facing in terms of their funds being locked for more than a month over one of its private key holders cooperating with Chinese security services and strong rumors going around that Huobi exchange could be targeted next, customers appear to be finally moving out their funds in masses to the benefit of some big exchanges like Binance.
OKEx has resumed its withdrawal services on 26th of November and has started rewarding its users with generous compensations, however that hasn't prevented many from withdrawing from the exchange.
Within the first hour of resuming the withdrawals the exchange was reportedly 5,611 BTC lighter with 70.41 BTC flowing into the exchange and 5681.79 BTC flowing out
The period of uncertainty with OKEx has also sparked fear among Huobi customers which has observed 18,652 BTC flowing out from the exchange between 2nd November and 11th of November.
The main beneficent of the outflows according to the reports and whale alerts appears to be Binance which is a leading exchange in China with its founder CZ Binance operating from Signapore, therefore being far less likely to be captured and investigated by the Chinese security services.
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- Beware of fake Uniswap applications
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- Binance begins closure of US customers accounts
- Uniswap site was down because of dependency on Cloudflare, is this really a big problem ?
- Critical Etherum services go down for couple of hours
- Wall Street Trading Firm is accumulating Bitcoins & Alts
- Bitcoin miners best profitability cycle since last halving
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This article was originally posted on read.cash
Cryptocurrency & Blockchain
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.