Why is the Ouyi OKEX wallet gone?

OKEx Wallet has been offline on November 22, 2022 due to regulatory compliance and enhanced security. Users need to transfer assets to other wallets or exchanges, such as OKX Exchange, third-party wallets or other regulated exchanges.

The reason why OKEx wallet disappeared

Reason:

OKEx wallet has been offline on November 22, 2022, because of:

• Regulatory compliance requirements: In order to comply with cryptocurrency-related laws and regulations set by regulatory agencies in various countries, OKEx has decided to cancel its centralized wallet service.
• Improved security: Centralized wallets store user assets on centralized servers, which poses security risks. OKEx hopes to enhance the security of user assets by delisting wallets.

Impact:

OKEx wallet users need to transfer assets to other wallets or exchanges before November 22, 2022. Otherwise, the assets will not be withdrawn.

Alternative Solutions:

OKEx recommends users to use the following alternative solutions:

• OKX Exchange: Transfer assets to OKX Exchange for trading through its matching engine.
• Third-party wallets: Transfer assets to third-party wallets like MetaMask or Trust Wallet.
• Other Exchanges: Transfer assets to other regulated cryptocurrency exchanges for trading.

Note:

• OKEx wallet has stopped serving and cannot be restored.
• OKEx exchange is not affected by this offline and is still operating normally.
• Users should choose third-party wallets carefully and ensure their security and credibility.

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