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OKX secretly modified the withdrawal rules again, and all Japanese users are affected?

##CryptoExchange##OKX##Blockchain623
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In recent news, there have been legal issues between Sec and Binance, causing a stir in the cryptocurrency market. However, the situation with OKX has gone largely unnoticed. OKX has once again made changes to its withdrawal rules without any public announcement or explanation. They have reduced the withdrawal limit for KYC1 users from 5000 U to 1000 U without notifying their users. Additionally, OKX has restricted users from Japan and Iran from withdrawing any assets without any notice. This has led to Japanese users changing their nationality to Chinese and using a Chinese IP VPN to complete withdrawals. Many affected Japanese users speculate that the Financial Services Agency may be pressuring OKX, but it is unclear if any action will be taken. Overall, this is seen as a typical tactic by OKX to exploit its users.

This month, Sec sued Binance, causing a lot of commotion, and even directly crashing BTC. The incident at OKX has received little attention.

OKX's ??th secret rule change, completely letting go#

Talking about the little thing of OKX arbitrarily changing rules and restricting user withdrawals

Following the last time, it seems that OKX is becoming more and more unrestrained. Recently, the withdrawal limit was "secretly" modified again:

KYC1 users, 5000 U/permanent -> 1000 U/permanent

There was no announcement or explanation, and there was no need to search through the user agreement.

The specific time of this modification can only be analyzed from the comments of netizens and the marketing tweets of their unprofessional "official customer service":

The modification was made no later than 9:37 AM (UTC) on June 30th.

image
OKX Chinese customer service on Twitter: "Different KYC level permissions https://t.co/76bOwpJDjM" / Twitter
Archived on Jul 1, 2023, 07:20:59 UTC image
OKX Chinese customer service on Twitter: "🆕Different KYC level permissions https://t.co/OBRuaTthTn" / Twitter
Archived on Jul 1, 2023, 07:08:33 UTC

Japanese and Iranian Users Victimized#

Before this change, OKX actually did something advanced:

  • Expelling Japanese and Iranian users

Without any announcement or notification, users whose KYC residency is Japan or Iran are unable to withdraw any assets.

This matter was directly reported by Yahoo! News:

image

Overseas cryptocurrency exchange "OKX" begins restricting use by Japanese residents (Atarashii Keizai) - Yahoo! News

Archived on Jul 1, 2023, 08:11:28 UTC

https://news.yahoo.co.jp/articles/e1259994cf135cb7182f6d777481559cff501d9a

Many concerned Japanese users have speculated that the Financial Services Agency has started to exert pressure. However, it is understood that OKX is still secretly providing services to Japanese users. Let's see if the Financial Services Agency will cause trouble for OKX.

I think this is just OKX's usual harvesting method. The leeks are still tender.

Other related reports:

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