US Probe Rumors Swirl Around OKX Founder Star Xu

Rumors circulate online alleging that OKX CEO Star Xu is facing investigation by US authorities. The speculation stems from Xu's past legal troubles, including his arrest in 2020 during a non-exchange-related investigation. The rumors have gained attention after Chinese whistleblower Alvin shared information on social media, suggesting the possibility of investigations. Xu's angry emoticon response on social media has further fueled speculation.

Allegations Surface of US Investigations into OKX Founder Star Xu

Amidst online speculation, rumors have emerged suggesting that Star Xu, the enigmatic founder and CEO of cryptocurrency exchange OKX, may be the subject of an investigation by United States authorities. These rumors have garnered significant attention within the crypto community, fueled by Xu's well-documented history of legal controversies.

Claims from Alvin's Whispers

Chinese whistleblower and prominent crypto community member, Alvin, ignited the latest round of speculation by posting two tweets on Twitter. Translated from Chinese, Alvin's tweets alluded to potential investigations, suggesting that they could be a tactic employed to bolster OKB's market position.

Alvin drew parallels to previous incidents, stating, "Bitcoin is strong because Satoshi Nakamoto disappeared, SOL is strong because SBF has entered, and Luna is strong because DK has entered, so why is ETH weak?"

Star Xu responded to these claims with an angry emoji on Twitter, a move that has further fueled speculation. It remains unclear whether Xu is refuting Alvin's accusations of PR stunts or confirming the rumors of an investigation.

Xu's Past Legal Troubles

The rumors surrounding a US investigation are not entirely isolated from Xu's past legal entanglements. In October 2020, Xu was mysteriously arrested while assisting police with a non-exchange-related inquiry. Coincidentally, during his absence, OKX temporarily suspended user withdrawals, sparking concerns within the crypto market.

While the exact reasons for Xu's arrest were never fully disclosed, reports suggested his potential involvement in an investigation into backdoor listings. More recently, in February 2024, OKX faced intense scrutiny from South Korean authorities concerning allegations of unregistered activities targeting Korean investors. South Korea's Financial Intelligence Unit launched an investigation into OKX, highlighting their non-compliance with local regulatory mandates.

Current Status of Rumors

Despite Xu's history with legal issues, his role within OKX has remained under the microscope. The allegations of a US investigation remain unverified, and it is crucial to approach such rumors with caution. As of now, the extent and nature of any potential investigation remain uncertain, and official confirmation is yet to materialize.