Chinese Bitcoin Exchange OKEx Denies Hack, Blames $3 Million Theft on User Behavior

Chinese bitcoin exchange OKEx denied allegations that it was hacked and blamed recent thefts on users who did not properly secure their accounts.

As reported in regional media outlets, roughly 10 customers of OKEx and OKCoin — both owned and operated by the same company — allege that more than 600 BTC (worth close to $3 million at the time of the theft) — was stolen from their collective accounts in late August. One of those users claims to have lost more than 200 BTC, and several say that their accounts were accessed from German IP addresses.

According to at least one report, the local police are refusing to investigate the incident because bitcoin trading has been banned within the country as part of the country’s crackdown on initial coin offerings, although a few exchanges continue to operate temporarily with the consent of the government.

The alleged incidents occurred more than a month ago, but the Chinese bitcoin exchange is just now publicly commenting on the matter. Lennix Lai, financial market director for OKEx and OKCoin, tweeted that OKEx was not hacked and that “all client assets are safe and sound.”