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OKEx Moves 320 Mln USDT In Preparation for Wallet Maintenance

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Thu, 04/30/2020 - 10:15
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Yuri Molchan
OKEx crypto exchange is preparing for scheduled wallet maintenance and moving funds to an unknown wallet
OKEx Moves 320 Mln USDT In Preparation for Wallet Maintenance
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OKEx CEO Jay Hao has taken to Twitter to warn traders that the crypto exchange is preparing to put its wallet under maintenance.

Meanwhile, Whale Alert has reported nearly twenty consecutive transactions from OKEx. Each one bears 20 mln USDT, making that 320 mln Tether in total.

OKEx
Image via Twitter

In the comment thread to Jay Hao’s tweet, some also pointed to the aforementioned transactions, saying that the exchange has prepared well for the upcoming procedure.

However, a Twitter user @KoffiLatte07 sounds somewhat suspicious and critical about OKEx.

Users on Whale Alert are also sharing their criticisim:

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Whale Alert also reports that 33 mln USDT has been sent to Binance from an unknown wallet. Considering the current Bitcoin price upsurge and that USDT is often used for transferring funds between crypto exchanges, it looks like someone could be preparing to buy some more BTC.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.