After a five-calendar week-long suspension of all user withdrawals, cryptocurrency exchange OKEx  resumed normal services at 8:00 am UTC on Nov. 26.

Having appear the re-opening concluding week, OKEx then indicated it would be launching a compensation and rewards programme to express its gratitude to customers for belongings out during the disruption.

These programs include commission rebate cards denominated in Tether (USDT), a one-fourth dimension compensation payment based on users' asset and transaction histories, and a doubling of the asset weight adding for holders of the exchange's native token, OKB.

Despite these efforts, today's data shows that the programs take not been enough to forestall users from withdrawing their funds, having apparently lost confidence in the exchange.

While withdrawals have not been open for long, some telling initial data is emerging on social media transaction trackers. Mason Jang, the master operating officer of Crypto Quant, tweeted:

More data from CryptoQuant shows that "the showtime OKEx outflow later on the withdrawal opening hit two,822 BTC by the block time frame," which is "the yr-high in the block time frame":

ten-twenty-four hours Bitcoin exchange outflow total for OKEx. Source: Twitter

Crypto tracking service Whale Alert also traced at least a couple of high-value transactions within an hour of withdrawals opening:

As reported, OKEx had suspended withdrawals on Oct. 16 while ane of the holders of the exchange'due south individual keys cooperated with an investigation led by authorities and was therefore unable to authorize transactions within the hot wallet system.

The commutation has maintained it was not involved in any illegal activities, although there have been reports that its founder, Star Xu, had been questioned past law that aforementioned week.

The sudden withdrawal suspension in mid-Oct acquired significant volatility in the markets at the time, prompting a dip of 3% in Bitcoin'due south (BTC) trading cost.

With outflows continuing from the exchange to other exchanges and wallets, bearish sentiment is circling in the market. BTC/USD has merely lost support at $17,000, reporting its largest losses since March.