OKX Freezes $40K in Stablecoins After User Buys KYC Accounts

OKX has come under public scrutiny after freezing $40,000 in stablecoins held in accounts purchased from third parties, a move the exchange says was necessary to maintain compliance and user security. The incident, which drew attention over the weekend, involved a longtime user known as Captain Bunny, who purchased four KYC-verified accounts from other regions in 2023 to participate in OKX’s Jumpstart events, which were unavailable to users in mainland China. Identity Rules Over On-Chain Records in OKX ...