An exchange, BKEX, servicing 8 million people in over 100 countries has suspended all withdrawals to aid a police investigation with"gathering evidence". This is confusing, frightening and ridiculous in another great example of not your keys. Withdrawals

Yesterday, BKEX put of a statement regarding withdrawals from their platform.

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BKEX has suspended all withdrawals due to cooperating with a police investigation that pertains to money laundering that either directly or indirectly affects their platform. ^.That must be frightening for users. Ironically, they state that the rights of users are protected even though the most significant one of your right to withdraw isn't part of that. They also state you may contact customer support for issue and "they would be happy to provide support and assistance" ^{as long as it doesn't involve withdrawals}

It also completely ridiculous that all customers have to suffer for this. Imagine if banks would suspend withdraws for money laundering investigations. They'd probably have to shut down and freeze withdrawals very nearly every day. Further, it's very confusing that withdrawals are frozen for gathering evidence. It makes it seem like some thing very shady is going on in the background because company and transaction records are supposed to be present whether withdrawals are active or not. They don't just disappear when withdrawals are active. Ironically, if this Cefi transactional activity being investigated happened on-chain like crypto is supposed to work all the evidence would be public. I would also think that actually leaving withdrawals active would allow for more evidence-gathering since the criminals could potentially leave more traces.

It's clearly that something else that's very shady is going on besides what they and media reports say. BKEX is based in British Virgin Islands known as a tax haven and shady financial activity, on top of BKEX having Chinese ties(use Yuan as default currency and parts of the English website in Chinese). Nothing against the Chinese, but proper regulation and transparency aren't their strong suits as we well know.