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OKX Founder Star Xu Clarifies Why User Accounts Get Frozen

Key Takeaways

  • OKX’s Star Xu clarified that account freezes occur for three main reasons: crime ties, KYC failure, or legal procedures;
  • Xu said most KYC-related freezes happen when users miss document submission deadlines, a safeguard for platform security;
  • The KYC enforcement issue arose after users reported being locked out of their OKX accounts due to incomplete identity verification.

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OKX Founder Star Xu Clarifies Why User Accounts Get Frozen

OKX $1.83B founder Star Xu has clarified the company's position on freezing user accounts when Know Your Customer (KYC) information is not up to date.

This discussion gained attention after reports surfaced that user accounts were being locked due to incomplete identification requirements.

On January 11, several users expressed frustration over being unable to access their OKX accounts due to KYC policy enforcement.

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Xu addressed these concerns in a post on X by outlining the platform's approach to account restrictions. He explained that connections to criminal activity or involvement in law enforcement investigations would result in account suspension.

KYC completion rules also factor into the process. Reports from the community indicate that certain users discovered their accounts were inaccessible when required identity updates had not been completed.

According to Xu, account restrictions linked to KYC mainly occur when users fail to submit required documents before system deadlines. He noted that such freezes aim to protect security and follow established procedures.

Xu stated that there are three reasons for an account to be frozen: involvement in criminal cases or police investigations, failure to complete KYC, or relevant judicial procedures, such as arbitration.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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