Cryptocurrency exchange OKEx has denied rumours of a hack this morning, stating that “scheduled wallet maintenance” is taking place.

Speculation intensified on social media after a ‘Whale Alert’ Twitter account revealed that more than $270 million was sent from the exchange to unknown wallets.

Prominent Bitcoin influencer Richard Heart tweeted: “Rumours that OKEx is hacked. Hundreds of millions?”

However, OKEx’s head of PR, Jennifer Chow, confirmed to Coin Rivet that no hack has taken place.

It is scheduled wallet maintenance,don’t worry. Thanks https://t.co/4LFJweDXtd — Jay Hao (@JayHao8) September 4, 2019

Chow said: “Regarding the rumour, it is a regular wallet maintenance which will happen every couple of weeks.”

Jay Hao, the exchange’s CEO, confirmed that the activity was a result of wallet maintenance on Twitter by writing: “It is scheduled wallet maintenance, don’t worry. Thanks.”

There have been several major cryptocurrency exchange hacks over the past few years. Binance lost more than $40 million to cyber criminals in May, while CoinCheck saw $500 million in NEM tokens stolen in 2018.

OKEx is one of the largest cryptocurrency exchanges in terms of daily trade volume, facilitating more than $1 billion worth of trades on a daily basis.

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