Xu Mingxing, born in 1985, is a pioneering figure in the global blockchain and digital asset industry. As the founder of OK Group and its flagship cryptocurrency exchange platforms—OKCoin and OKX—he has played a pivotal role in shaping the early development and mainstream adoption of blockchain technology. A recognized thought leader, author, and technology entrepreneur, Xu’s career reflects a deep commitment to innovation, security, and the long-term vision of blockchain as foundational infrastructure for the future economy.
With a background in applied physics from the University of Science and Technology Beijing and early experience as CTO of Docin.com (a document-sharing platform), Xu transitioned into the blockchain space at a critical juncture in 2013. His launch of OKCoin marked one of the first major steps toward institutionalizing digital asset trading in China and later on a global scale.
Leadership and Strategic Vision in Blockchain Development
Xu Mingxing’s leadership style is defined by technical rigor, forward-thinking strategy, and an unwavering focus on real-world application. He has consistently emphasized that blockchain should not exist in isolation but must integrate with finance, data security, supply chain management, and decentralized identity systems.
Under his guidance, OK Group evolved beyond a simple exchange model. In 2017, he launched OKEX (now part of OKX), positioning it as an international trading platform offering spot, futures, derivatives, and DeFi services. This expansion helped OKX rise among the top global exchanges by trading volume.
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His vision extended further with the creation of OKLink (now part of OKX Ecosystem) and OKG, focusing on blockchain infrastructure such as blockchain browsers, node services, and cross-chain interoperability—key components for enterprise adoption.
Even after stepping down from executive roles—including CEO of OKEX in 2018—Xu remained deeply involved in strategic oversight and technological advancement within the OKX ecosystem.
Major Milestones in Xu Mingxing’s Career
- 2006: Graduated with a bachelor’s degree in Applied Physics; began graduate studies in Mathematics at Renmin University before leaving to pursue entrepreneurship.
- 2007–2012: Co-founded Docin.com, serving as Chief Technology Officer.
- 2013: Founded OKCoin, which quickly became one of China’s most prominent Bitcoin exchanges. Raised $10 million in Series A funding within three months.
- 2014: OKCoin featured at major tech forums; named among Entrepreneur Magazine’s “Top 100 Innovative Growth Companies.”
- 2015: OKCoin advertising lit up Times Square with the slogan: "Bitcoin is here, OKCoin is here, Everything will be OK!"
- 2016: Appointed expert advisor by Zhongguancun Internet Finance Association and National Internet Finance Safety Technical Committee.
- 2017: Launched OKEX as an international arm of OKCoin, expanding trading pairs and derivatives offerings.
- 2018: Stepped down as CEO of OKEX; founded OKG Group (later rebranded as part of OKX) to focus on blockchain R&D, security, and big data analytics.
- 2019: Ranked No. 398 on the Hurun Rich List with a net worth of 10 billion RMB (~$1.4 billion USD).
- 2020: Temporarily assisted in police investigations related to past corporate acquisitions, leading to brief operational disruptions at OKX. Later clarified that the matter stemmed from legacy legal complexities unrelated to current platform operations.
- 2021: Officially dissolved Beijing Lekuda Network Technology Co., Ltd., signaling structural transparency and corporate streamlining.
- 2022: Resigned as non-executive director of OKG Group, maintaining influence through advisory and technical contributions.
- 2024: Publicly addressed recent security concerns involving user funds, advocating for improved authentication standards and proposing automatic expiration mechanisms for low-activity withdrawal addresses.
Advocacy for Security, Transparency, and Industry Maturity
In mid-2024, Xu Mingxing actively responded to several incidents involving alleged user fund losses on OKX. He clarified that none were caused by switching from Google Authenticator (GA) to SMS-based two-factor authentication. Instead, he highlighted that threats primarily arise from device-level compromises or phishing attacks targeting GA seed phrases.
He proposed introducing a "silent expiration" mechanism for免认证 (no-authentication) withdrawal addresses—used mainly by API traders—to enhance long-term security without imposing impractical limits.
Moreover, Xu emphasized that while no authentication method is foolproof, user education and layered security protocols are essential. He reaffirmed OKX's policy of full compensation for losses due to platform vulnerabilities, reinforcing trust in its security framework.
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He also rejected claims of unethical marketing practices, stating clearly: "OKX prohibits black-hat tactics. Short-term gains through smear campaigns damage brand integrity and long-term growth."
Authorship and Thought Leadership
Beyond business ventures, Xu Mingxing has contributed significantly to public understanding of blockchain through his published works:
- Blockchain: Reshaping Economics and the World (2016) – A foundational text exploring blockchain’s macroeconomic implications.
- Illustrated Blockchain: The Revolutionary FinTech Shaping Our Future Society (2017) – A visual guide making complex concepts accessible to general readers.
- Token Economy (2019) – Examines how tokenization can transform governance, incentives, and value exchange.
- Fun Tales of Financial History: Money, Finance, and the Future Economy (2021) – Connects historical financial evolution with modern digital trends.
These books have become widely referenced resources in academic and industry circles alike.
Frequently Asked Questions (FAQ)
Q: Is Xu Mingxing still involved with OKX?
A: While he no longer holds formal executive positions, Xu remains a key figure in shaping OKX’s technological direction and public communications, especially regarding security and innovation.
Q: Was Xu Mingxing detained permanently in 2020?
A: No. He voluntarily cooperated with authorities regarding a legacy corporate acquisition issue. He was released shortly afterward and resumed normal activities.
Q: Does OKX compensate users for stolen funds?
A: Yes—OKX maintains a policy of full reimbursement for losses resulting from platform-side vulnerabilities. However, individual account breaches due to phishing or malware are assessed case-by-case.
Q: Did Xu Mingxing leave China permanently?
A: There is no official confirmation of his current residence. However, he continues to engage publicly via international platforms like X (formerly Twitter), suggesting ongoing global involvement.
Q: What is Xu Mingxing’s view on regulation?
A: He supports balanced regulation that fosters innovation while ensuring investor protection. He has previously stated readiness to collaborate with regulatory bodies for industry standardization.
Q: How does Xu Mingxing contribute to blockchain education?
A: Through his books, public speaking engagements, and support for blockchain research initiatives under OKG/OKX, he promotes widespread literacy in decentralized technologies.
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Xu Mingxing’s journey exemplifies the convergence of technical expertise, entrepreneurial courage, and long-term vision. From founding one of China’s earliest crypto exchanges to advocating for secure, transparent blockchain ecosystems globally, his impact continues to shape the trajectory of digital finance. As blockchain matures into a core component of global infrastructure, figures like Xu remain instrumental in bridging innovation with trust.