User Accuses OKCoin of Trying to Steal 97 Bitcoins: Reddit

One OKCoin user has claimed that Chinese Bitcoin exchange OKCoin has tried to steal 97 Bitcoins (approximately $250,000). The user published an article on Reddit, complete with screenshots, showing that the company has been unwilling to verify his identity, in spite of weeks of email exchanges.

The company employs a common practice of requiring photos of passports or documents in order to verify the identity of its users. However, this user claims that the company refused to validate his documents, even though he uploaded them several times.

Chinese riddle

According to the user, after weeks of sending multiple documents via email and through the website, the company abruptly changed the name of his account. The new name (in Chinese) suddenly appeared on the account, though the user does not speak Chinese and did not give anyone access to his account. At that point, the user decided to publish the article on Reddit and seek community help.

The company’s leadership has not had an illustrious history when it comes to fraud. The company’s CEO, Star Xu, was accused of forging a contract between the company and Roger Ver, owner of the domain Bitcoin.com, in order to escape paying a $10,000 per month contract.

After publishing on Reddit and being voted up, the user indicated that he has now received a call from OKCoin’s support team to seek a resolution to the issue.


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