Is the rumor of a US investigation against OKX Founder Star Xu true or false?
OKX Founder Star Xu Faces Potential US Investigation
Speculations about Star Xu, the founder of cryptocurrency exchange OKX, being the subject of a potential investigation by US authorities have been circulating on the internet, gaining significant attention. These rumors are believed to be true, as Xu’s previous legal troubles are well-known in the crypto community.
Alvin’s Claims of US Investigations
Recent rumors originating from the Chinese community suggest that Star Xu, the CEO of OKX, is currently under investigation by US authorities. Alvin, a popular member of the crypto community and a Chinese whistleblower, has posted two tweets on X, shedding light on these alleged investigations. Translated from Chinese, Alvin’s posts indicate that these investigations may just be rumors created to boost the price and market strength of OKB.
Alvin draws parallels from previous instances and questions why Ethereum (ETH) is weak, suggesting that the strength of other cryptocurrencies like Bitcoin, SOL, and Luna can be attributed to significant figures like Satoshi Nakamoto, SBF, and DK entering the scene.
Star Xu’s Response
In response to Alvin’s suggestions, Star Xu personally commented on X with nothing more than an angry emoticon. His remark has sparked further speculation, as it is unclear whether he is angry at the idea that Alvin believes these investigations are just PR stunts or if he is angry because Alvin thinks they are mere rumors when in fact they are true.
However, it is not surprising to hear rumors about Star Xu’s legal troubles, as he has faced controversies in the past.
Star Xu’s Infamous Legal Woes
Star Xu, the mysterious figure behind OKX, has a history marked by legal issues. In October 2020, Xu was unexpectedly arrested while assisting police in a non-exchange-related investigation. During his absence, OKX suspended users from withdrawing their cryptocurrency funds, causing significant concern in the market.
The reasons for Xu’s arrest remained unclear, but reports suggested that it may have been related to a backdoor listing investigation.
More recently, in the first week of February 2024, OKX came under scrutiny from South Korean agencies for allegedly engaging in unregistered activities targeting Korean investors. South Korea’s Financial Intelligence Unit is set to investigate OKX, highlighting the fact that the exchange promoted its services to Koreans without adhering to local regulatory requirements.
Despite his previous legal troubles, Star Xu’s role in OKX and associated entities continues to be scrutinized. The swirling rumors surrounding his potential investigation by US authorities have yet to be confirmed.
Tags: Crypto Regulations