Who designed their system to require ALL multi-signature keys to sign instead of a majority? Talk about one of the stupidest decisions I've read about this year.
Suppose one got hit by a car, are all of OKEx's funds lost?
Or is this just an exit scam?
I think Star Xu is just one of those who has control over private keys, but the exchange may have been ordered to suspend business until further notice - I don’t believe anyone would be so stupid as to allow what happened to Quadriga exchange when one man is allegedly taken with him to the grave around $200 million of user funds.
Human stupidity is unfortunately endless, but I don’t believe that’s the case here - I would put this in the category of classic pressure from the Chinese authorities on what is illegal in Chinese territory, and we all know that Hong Kong is still playing under some of its rules that China disapproves.