TechFlow news — According to OKEx's official website, OKEx generates 10,000 private keys and their corresponding addresses on a fully offline computer for its Bitcoin cold wallet, then deletes the original private keys after encrypting them with AES.
The AES decryption key is split between two individuals located in different geographical regions. At OKEx, one keyholder is based at an OKEx office, while the other is in a city in western United States, and the two are prohibited from traveling together on the same vehicle.
The encrypted private keys along with the plaintext addresses are compiled into a QR code-encrypted document, which is then backed up in geographically separated bank safe deposit boxes. OKEx maintains two backups: one in a bank vault near its office, and another in a bank vault in a city in eastern United States.
