OKX Can Freeze Your Funds if You Send Them to This Crypto Platform

OKX CEO Star Xu has warned users about the risks surrounding the sanctioned crypto mixer Tornado Cash.

In an August 9 statement on the X platform, Xu stressed that deposits from sanctioned entities, including Garantex and Tornado Cash, or withdrawals to those entities, could trigger compliance risks and result in account suspensions.

Xu emphasized that OKX strictly adheres to all relevant sanctions policies, including those imposed by the U.S.

As a consequence, the exchange does not accept customers on the Specially Designated Nationals (SDN) List and cannot provide services to sanctioned individuals or entities.

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He clarified that this policy has been in place for some time and is not new. Xu said:

If our sanctions controls are triggered due to deposits from or withdrawals to a sanctioned exchange or DeFi protocol such as Garantex or Tornado Cash, our compliance team can freeze the associated funds and off-board the account.

This warning follows a public call by an X user known as Satoshi Friends, who urged users from the Commonwealth of Independent States to withdraw their funds from the platform.

Kosta Gushterov