OKX blocked your funds? Here’s what you should do
OXK is one of the top 10 global cryptocurrency exchanges, has many licenses and a good reputation. The exchange was founded in 2017 and is headquartered in Malta. Despite its long existence and great options that OKX provides, users from time to time face problems with blocking funds, freezing the account, long payment processing that do not end with anything. But these problems can be solved and we will tell you how.
Let’s look at the most common reasons encountered by users:
You tried to withdraw funds from a different IP address. Which may raise suspicion on the part of the exchange, especially if it was a significant amount at one time. You may have tried to do so because you were on a business trip or on vacation, but such behavior may be considered unusual and require additional verification.
In order to protect the client in such a situation, the exchange can block the owner’s account indefinitely until the owner himself requests unblocking or notices suspicious activity on his or her account related to unauthorized login. A solution to this problem could be to create a separate “cold” wallet to store your funds in case of an emergency or unexpected circumstances. This will help secure your assets and avoid similar troubles in the future.
Blocking under AML rules. In the case of a blocking under anti-money laundering (AML) rules, the following scenario is possible: you conducted a transaction on an exchange and funds were credited to your account on the exchange, but, due to AML requirements, the exchange may refuse to accept these funds and block your account. This scenario can also happen if the exchange is required to prove the legitimacy of the origin of your funds.
In other words, if you made a transaction using “dirty” money, it can lead to the blocking of your account in accordance with AML rules, which are observed by almost all exchanges. This problem is quite common among our clients, and it can be difficult to solve without expert help.
Compliance with Laws. It is critical for OXK to comply with the legal requirements of all countries in which it operates. If your account is suspected of violating local laws or regulations, OXK may block it.
Suspicion of fraud. If unusual activity is detected on your OXK account, such as you attempting multiple unrelated transactions or exchanging large amounts of cryptocurrencies, the exchange may block your account to protect you and other users from potential fraud. This is especially true for referrals and users who use multi-accounts to get all the benefits on just one main account.
How do I unblock my OKX account?
If you’re sure you didn’t violate the rules and don’t understand why your account was blocked, you can contact OKX Support for help.
• If you couldn’t solve the blocking problem yourself, our experts are ready to help you understand the reason and resolve it.
• To get support, you can contact us via telegram chat or submit a request on the homepage.
• When creating your request, it’s important to provide all the necessary details and documents so that we can help you unblock your account as quickly and efficiently as possible.