The founder of crypto exchange service provider OKCoin and crypto exchange OKEx is reportedly been detained in China for suspected digital money fraud.
Star Xu, the founder of exchange business provider OKCoin and the world’s second-largest crypto exchange OKEx, has allegedly been detained in China in relation to supposed digital money forgery, neighbourhood news channel Sina News reports September 11.
According to the story channel, Xu is currently being held in the Shanghai Weifang Xincun police station, and will be released within 24 hours if insufficient evidence is ascertained of his participation in believed fraud.
Tech news sources ZeroHedge reports that investors in WFEE Coin — a company where Xu is a shareholder — complained to the police about the company’s reportedly sham practises, prompting the police to bring Xu in for questioning.
Cointelegraph will revise this history as it continues.
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