OKX Founder Dismisses Rumors About His Arrest in the United States

In a recent turn of events, rumors have circulated regarding OKX Founder Star Xu’s arrest by American authorities. However, Xu has refuted the claims by posting messages on his official X account.

Chinese crypto journalist Colin Wu recently shared an X post, providing updates on the rumors surrounding the United States’ scrutiny over OKX Founder. According to Wu’s X post, Xu has shared three X posts in an attempt to dismiss the rumors. The reporter also shared insights on similar rumors that were frequent after Binance founder Changpeng Zhao’s prosecution in the US.

There are rumors in the Chinese community that StarXu, the founder of OKX, the second largest cryptocurrency offshore exchange, is under investigation by the United States. Star posted three tweets to refute the rumors. Similar rumors often arise after CZ was criminally…

— Wu Blockchain (@WuBlockchain) March 23, 2024

Alvin, a prominent voice in the crypto sphere, took to X to comment on the prevailing rumors about Xu and his detention. He wrote that the community is bothered by the news spreading about the increasing scrutiny and Xu’s arrest. However, he asserted that the news is likely a rumor, stating,

I think it is most likely a rumor. They want to force OKB to be raped.

Subsequently, Xu posted an angry face emoji in response to Alvin’s message, expressing his outrage at the rumors.

😡 https://t.co/3FNZzllctd

— Star (@star_okx) March 22, 2024

The rumors came following OKX’s crucial decision to shut down in India amidst increasing regulatory challenges. In December 2023, the Financial Intelligence Unit (FIU) of India warned 9 foreign crypto exchanges, including OKX, against their non-compliance with the country’s registration laws.

On March 21, OKX requested its Indian customers to close their accounts and withdraw their funds by April 30. The platform noted, “We regret to inform you that OKX is no longer providing services to users in India.”

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