{"id":564237,"date":"2020-10-16T11:58:42","date_gmt":"2020-10-16T08:58:42","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564237"},"modified":"2020-10-16T11:58:42","modified_gmt":"2020-10-16T08:58:42","slug":"okex-incident-could-push-more-crypto-users-to-defi-protocols","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/okex-incident-could-push-more-crypto-users-to-defi-protocols\/","title":{"rendered":"OKEx Incident Could Push More Crypto Users to Defi Protocols"},"content":{"rendered":"
Quick take:<\/strong><\/p>\n The crypto-verse has been hit hard by the news of OKEx<\/a> halting all withdrawals after one of its private key holders is cooperating with Chinese authorities regarding an investigation. According to the official announcement<\/a> by OKEx, the concerned individual cannot be reached.<\/p>\n One of our private key holders is currently cooperating with a\u00a0public security bureau in investigations where required.<\/p>\n We have been out of touch with the concerned private key holder.\u00a0\u00a0As such, the associated authorization [of withdrawals] could not be completed.<\/p><\/blockquote>\n A quick glance at Coinmarketcap reveals that total crypto market capitalization has dropped by approximately $1o Billion since news broke of the incident at OKEx. Bitcoin dropped from the $11,500 price level to the $11,200 support area<\/a> as the OKEx news hit the internet. Ethereum also dropped hard from the $380 price level to the $365 support area<\/a>.<\/p>\n According to data from CryptoQuant.com, OKEx crypto outflows currently stand at zero. The team further provided a chart illustrating the situation at OKEx which can be found in the tweet below.<\/p>\n #OKEX<\/a> outflow became zero after suspending withdrawals. $BTC<\/a> plunged sharply right after the OKEX's announcement. pic.twitter.com\/Z0hSgpAl6s<\/a><\/p>\n — CryptoQuant.com (@cryptoquant_com) October 16, 2020<\/a><\/p><\/blockquote>\n\n
Bitcoin, Ethereum and the entire Crypto Markets Shaken<\/h2>\n
The OKEx Incident Could Push Crypto Users to DeFi<\/h2>\n
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