OKEX founder escorted to police station regarding fraud case

11 Sep, 2018
News
OKEX founder escorted to police station regarding fraud case

Reports coming out of China are that OKEx founder Star Xu has been taken to the Shanghai Police department following reports of potential fraud, and the reports seem to indicate that Xu is questioned by investigators. 

Sources reported the story today, which was posted in Chinese and translated to English. 

It is believed that the case relates to fraud against Xu, accused by investors connected to the $WFEE coin. 

Xu is a shareholder in $WFEE coin, and was escorted to the local Shanghai police station for questioning. According to the translation, Xu is simply assisting police at this point and being held for questioning, but does not appear to be under arrest at this time. 

Xu is the founder of OKEX, currently the second largest cryptocurrency exchange with daily volume of nearly $700 million.

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