Xu Mingxing responds to the account freezing incident, admitting that the compliance system has false reporting issues

ChainCatcher news, according to Cointelegraph, OKX CEO Xu Mingxing apologized for the incident of mistakenly freezing user accounts on the platform, acknowledging a high false positive rate in the compliance system. Some users reported that after completing strict identity verification, they were still unable to unfreeze their accounts and were asked to provide additional information, including 10 years of work experience.

Xu Mingxing stated that the global compliance team has over 600 members, but completely eliminating false positives remains challenging. The exchange recently faced issues as its risk control system misclassified some compliant users as high-risk, leading to abnormal account locks.