OKEx Founder Star Xu Detained by Shanghai Police
Allegations of Financial Misconduct
Star Xu, the founder of cryptocurrency exchange OKEx, has been taken into custody by Shanghai police in connection with an investigation into financial misconduct. The news was first reported by Chinese news outlet Caixin, which cited unnamed sources.
Police Investigation
According to the report, Xu is being investigated for allegedly embezzling funds from OKEx. The police have not yet released any official details about the case, and Xu has not yet been charged with any crime.
OKEx Response
OKEx has not yet publicly commented on Xu's detention, but the exchange has released a statement saying that it is "committed to cooperating with the authorities." OKEx also said that it is "confident in our compliance with all applicable laws and regulations."
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