Dear OKX users,
First, we sincerely apologize for the temporary suspension of withdrawals on our platform due to unforeseen circumstances. We're pleased to announce that the issue has been resolved, and full withdrawal services will resume by November 27 (HKT) following rigorous security audits to ensure the stability of our hot wallet system.
Key Updates
- 100% Reserves: OKX maintains full asset backing, eliminating risks of bank runs.
- User Compensation: New and existing customers will receive exclusive rewards (details forthcoming).
- Security Transparency: Our cold wallet technical framework is publicly documented on our website.
Hot Wallet Security Overview
OKX employs a multi-layered security protocol for hot wallets, including:
- Multi-Signature Verification
- Semi-Offline Signing
- Real-Time Risk Detection
Withdrawal Workflow
- User initiates withdrawal → AI risk control screens for anomalies.
- Approved requests generate unsigned transactions via semi-offline signing (immune to remote hacking).
Transactions undergo final offline risk checks before blockchain broadcast.
- Delayed signing activates if threats are detected.
Root Cause: A private key authorization failure triggered the outage. OKX has since enhanced its backup mechanisms for key personnel scenarios.
Compliance Commitment
OKX adheres to global regulations with strict KYC/AML policies. We continue to invest in compliant blockchain solutions, fostering industry growth.
👉 Explore OKX’s security measures
FAQs
Q1: Are my funds safe during the transition?
A: Yes—all assets remain fully reserved and audited.
Q2: How will compensation be distributed?
A: Eligibility details will be announced within 48 hours.
Q3: What prevents future outages?
A: Upgraded key-management protocols with fail-safes for extreme cases.
We appreciate your trust as we strive to deliver exceptional products and experiences.
OKX Team
November 19 (HKT)
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