All hash rate connected to OKEx’s cryptocurrency mining pools, which suspended withdrawals, was also almost zeroed.
The OKEx exchange, which suspended withdrawals after a senior manager was detained last month, almost lost all hash rate connected to cryptocurrency mining pools.
According to the data collected by The Block from BTC.com; The information computing power of miners connected to OKEx’s Bitcoin mining pool generated 5 percent of the total blocks mined in the last 3 months in the Bitcoin network. These miners mined an average of 10 blocks a day.
Hash rate dropped by 99 percent in Bitcoin
Since the announcement of the suspension of cryptocurrency transactions on October 16, OKEx’s computing power connected to the Bitcoin mining pool has dropped from 9,000 petahash to 20 petahash per second. Since October 17, OKEx’s Bitcoin mining pool has only mined 12 blocks, and the last generation took place on November 2.
There is also a 97 percent drop in Ethereum
Figures from OKEx’s mobile and web apps show similar numbers for the Ethereum mining pool. The computing power here also decreased from 30 thousand MH per second to 730 MH.
Reports in the Chinese media alleged that the detained stock exchange manager was Star Xu, the founder of OKEx. It is known that 1.1 percent of the bitcoins in circulation are also on the OKEx exchange.