US Authorities May Be Investigating OKX Founder

  • The market has been volatile due to reports that OKX’s founder, Mingxing Xu, is the subject of an American investigation.
  • Representatives for Xu and OKX quickly refuted the claims, linking them to possible attempts at market manipulation.
  • Given the heightened scrutiny from regulatory bodies, the situation exacerbates OKX’s ongoing regulatory challenges on a global scale.

Growing speculation suggests OKX founder Mingxing Xu, also known as Star Xu, is allegedly the subject of an American investigation.

Stay in the know on crypto by frequently visiting Crypto News Today

Xu quickly denied these claims and voiced his displeasure with the persistent misinformation on social media.

Could the OKX Founder Be Encountering Legal Issues in the US?

When a well-known person named Alvin answered questions concerning Xu’s alleged arrest in the US, rumors about it started to circulate in the Chinese cryptocurrency community. Alvin quickly refuted the rumors, speculating that the announcement might be a ruse to manipulate OKX’s native token, OKB.


“Many people asked me today if it is true that there are rumors that Xu Xingxing was arrested by the Americans. I think it is most likely a rumor. They want to force OKB to be raped,” a translated version of his post reads.

CryptoCaster Quick Check:

Over the previous week, OKB’s price saw extreme volatility, plunging as low as $54 before rising to its current value of $57 at the time of publication.

OKX’s OKB Token Price. Source: BeInCrypto

Gala Wen, the partnership lead for OKX, concurred with Alvin and rejected the allegations as untrue. Wen refuted any suggestion that Xu was involved in legal issues by highlighting his active participation in the company’s US operations.

“It’s so fake. The arrests in the United States are public information and anyone can check it on the government website. The American office is very big, and the boss personally comes to handle business. We work hard every day in high spirits,” Wen said.

Interestingly, Xu has encountered controversy before. He came under fire in China in 2020 when his exchange temporarily stopped accepting cryptocurrency withdrawals, which alarmed the market.

It’s interesting to note that the current rumors surface at a time when OKX is subject to heightened regulatory scrutiny in a number of jurisdictions. Authorities in South Korea opened a criminal investigation into OKX’s domestic operations last month. The exchange of covert activities and the use of domestic influencers in advertising campaigns were accused by the authorities. In addition, OKX stopped doing business in India because of the unfavorable regulatory climate there.

The US regulatory landscape is still unfriendly to the developing sector even as OKX continues to manage these international obstacles. Some companies have left the US market as a result of regulatory bodies like the Securities and Exchange Commission (SEC) pursuing legal action against significant exchanges like Binance, Coinbase, and Kraken.CRYPTOCASTER® - DECENTRALIZED FREEDOM!


e hope you enjoyed this article. Before you move on, we invite you to consider supporting CryptoCaster’s journalism.

Billionaire owners like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase) often have a strong influence on the hidden agendas surrounding the paradigm shift brought about by cryptocurrency and emerging Web3 technologies. CryptoCaster stands apart. We have no billionaire owner or shareholders to please. Our journalism is dedicated to serving the public interest in crypto development and institutional disruptions, not profit motives.

We avoid the pitfall of much U.S. and global media, which often resorts to false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency guide everything we do, we recognize that there is a right and wrong stance in the fight against fiat global banking interests and the monetary reconstruction driven by the emerging crypto ecology.

When we report on issues like the FTX, Binance, and Ripple crises, we’re not afraid to name names and uncover the truth. As a crypto sentinel, we offer a fresh, outsider perspective on global monetary disruption—something often missing from the insular American and European media bubble.

CryptoCaster’s paywall-free journalism is accessible worldwide thanks to our unique reader-supported model. This is made possible by readers like you. Your support keeps us independent, free from outside influence, and accessible to everyone, regardless of their ability to pay for news and information.

We are grateful for the ongoing monetary support from our readers. If you haven’t yet considered supporting CryptoCaster, please consider contributing just once from $1 or more in Bitcoin (satoshi) or Ether, or even better, support us monthly with a bit more. Scroll further down this page to find CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like