The most anticipated reopening of OKEx withdrawals will be happening earlier than its scheduled date. As stated in their previous update, withdrawals supposedly will resume on Nov. 27.

OKEx’s newest update on Nov. 24 stated that the resumption of withdrawals could be earlier than the announced date.

In line with this, the exchange will be launching a reward program. This is to express their gratitude particularly for their loyal customers who have continued to trust the exchange despite the ruckus that has happened.

Those who have deposited, held tokens, or traded during withdrawal suspension will be receiving 20% of OKEx total income from futures and perpetual swap transaction fees over the last seven weeks as incentive funds. This will be issued as a one-time payment to users based on their assets and transaction conditions.

Also, for OKB holders, the value of OKB (in USDT) will be doubled in the asset weight calculation process.

As for users whose assets exceeded 10,000 USDT before 4:00 pm UTC on Nov. 23, they will receive a commission rebate card from OKEx. It will have a minimum value of 100 USDT to 1,000 USDT maximum.

Before the update from OKEx, Ki Young Ju, CEO of CryptoQuant, revealed in his tweet on Nov. 23 that $0.02 bitcoin was moved from the exchange’s wallet.

Ki Young Ju tweet on BTC withdrawal by OKEx

Jay Hao, OKEx CEO, in reply to Ki Young Ju, also tweeted that “Warm-up over. Full speed ahead”.

OKEx CEO Jay Hao tweet in reply to Ki Young Ju

This is a clear indication that the scheduled reopening of withdrawals is finally going to happen. OKEx customers can now rest while waiting. 

It’s been more than a month since OKEx suspended all its withdrawals on Oct. 16. Some even speculated that OKEx will be the next Cryptopia. But with the recent developments, it’s almost definite that it’s not going to be the case. But due to a lack of transparency from the exchange, most of its customers are itching to withdraw all their funds once withdrawal resumes. With OKEx’s reward program, will its customers take the bait and remain loyal to OKEx? Or are we going to see a massive exodus from the exchange? We will soon find out once the reopening of the OKEx withdrawal happens.