OKX Founder Justifies $40K Asset Freezes Following KYC Breach

OKX's Star Xu explains the rationale behind freezing assets after a user confessed to acquiring KYC accounts, emphasizing compliance with regulations.

Star Xu, the founder of OKX, has come forward to justify the freezing of $40,000 in stablecoins. This action was taken after a user acknowledged purchasing accounts that had undergone Know Your Customer (KYC) verification.

The exchange highlighted its commitment to adherence to stringent KYC and Anti-Money Laundering (AML) regulations, which are crucial for maintaining the integrity of the platform and protecting all users.