Users withdrew 29,300 bitcoins ($500 million) from OKEx when the exchange resumed outgoing operations yesterday after more than a month of freezing, according to the analytical platform Glassnode.
During the same time, the exchange received 21,600 BTC deposits, along with which the balances on its wallets decreased to 212,000 BTC.
Data from CoinHolmes indicates that the main recipients of these transactions were the exchanges Binance, Huobi and Bitfinex. Binance accepted 12,549 BTC, 29,539 ETH, and 13.4 million USDT, for a total of $250 million. Information about transfers to personal wallets of the platform is not specified, but initially CryptoQuant stated that more than 80% of bitcoins were sent to them.
As noted by 8btc, Chinese users now trust Binance more, as they know that Its management is located outside the country. Chinese authorities in recent months have launched a fight against money laundering through cryptocurrencies, and the involvement of OKEx founder Minxin Xu in the investigation resulted in a prolonged loss of customer access to their own assets.
We add that OKEx, unlike Binance and Huobi, does not disclose the addresses of its wallets, so there may be an error in the specified amounts.