OKX CEO Star Xu backs $40,000 stablecoin freeze after user admits buying KYC-verified accounts

On Sunday, a user known as Captain Bunny said OKX froze around $40,000 in USDG stablecoins across four accounts that had been bought and were verified under other people's identities, funds he claimed were needed for his father's medical care. On Monday, OKX founder and CEO Star Xu defended the decision, citing strict KYC and AML duties and outlining conditions under which the platform might still assist the user in withdrawing the assets.