CEO of the exchange OKCoin allegedly stalked by several customers demanding back investments in digital currencies

By Christine Duhaime | September 15th, 2018

According to Caixin, China’s most influential media company, the founder and CEO of  the Chinese digital currency exchange OKCoin, Mingxing Xu, 徐明星, was stalked and chased to a hotel in Shanghai by angry customers of his exchange.

Later that day, he was taken to the Shanghai police station and detained overnight and part of the next day for questioning.

It is not clear whether he was held as a victim, a witness or as a possible defendant but another media organization in China reported that a criminal complaint was approved in connection with OkCoin but no one has confirmed this yet.

Apparently, several of the customers of OKCoin also went to the police station. According to some of the customers interviewed by Caixin, they were prevented from selling Bitcoin and other digital currencies online at OKCoin.

According to news reports, the police in China are investigating whether it is true that customers were prevented from selling. Exchanges, like brokerages, must follow customer instructions and complete a trade or they are liable for losses incurred by the delay and also like brokers, they are liable if an exchange refuses to return funds to the customer.

OKCoin operates in China and the US and is one of the largest exchanges in the world.

Two months ago, the founder of the ICO Skycoin, Brandon Smietana, was allegedly  threatened, beat up, robbed and forcibly confined at his home in China for several hours by his own employees who forced him to transfer 18 Bitcoin to them.

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