Star Xu, the founder of exchange services provider OKCoin and the world’s second-largest crypto exchange OKEx, has allegedly been detained in China in relation to suspected digital currency fraud, local news outlet Sina News reports September 11.
According to the news outlet, Xu is currently being held in the Shanghai Weifang Xincun police station, and will be released within 24 hours if insufficient evidence is found of his participation in suspected fraud.