cnLedger, a Chinese crypto, and Blockchain news outlet reported the news via Twitter:
Star Xu, founder of OKCoin/OKEX, is being investigated by Shanghai police. According to Lu Jun, officer at the local PD, Xu was suspected of fraud accused by investors. SH police has accepted the case.
Another tweet by cnLedger later stated that, after an intense questioning session, Star Xu’s company was found not related to the alleged scheme.
Preliminary investigation by Shanghai police shows that Xu’s company in Shanghai is not related to digital currency. The alleged fraud was not conducted in Shanghai but in Beijing, therefore documents will be handed to Beijing police.
The latest round of report suggests that Xu was released as the Shanghai police could only detain for 24 hours.
Update: Star Xu of OKEX was released from Shanghai police at 9:30pm https://t.co/aieEE4m3Zp
— cnLedger (@cnLedger) September 11, 2018