Chinese crypto exchange OKEx, who paused 100% of withdrawals on October 16 due to a fraud investigation, saw its crypto reserves nosedive 98% after reopening withdrawals on Wednesday. According to data analytics firm CryptoQuant, on November 25 the exchange the amount of tether (USDT) held in OKEx wallets dropped to $6.7 million from $275 million between November 25 to December 1, a decline of nearly 98% in less than a week. Customer funds have been frozen for nearly five weeks. Regional reports claim that OKEX’s founder Mingxing Xu was the primary token holder for the exchange, but was taken away by the police for questioning due to his involvement in a fraud case many years ago. To no one's surprise, new deposits have fallen dramatically, even since reopening withdrawals. “OKEx will put 20% of its total income from futures and perpetual swap transaction fees over the last seven weeks into an incentive fund that will be issued as a one-time payment to users based on their assets and transaction conditions,” the company said in a statement. According to Bituniverse, OKEx has nearlys $20 million in USDT to fund their wallets as of December 5. The trading platform has over 490 crypto trading pairs.