OKX Removes Felix Fan, Citing Ethical Violations Amid Rival Poaching Allegations
OKX’s layer-2 project, X Layer, has announced the immediate removal of its spokesperson, Felix Fan, citing ethical violations and conflicts of interest. The move, made public on October 28, 2025, has sparked debate across the cryptocurrency sector about corporate governance, transparency, and competitive hiring practices among leading platforms.
Conflict of interest and internal governance concerns
According to OKX, Fan’s actions breached internal ethical guidelines, prompting his immediate dismissal. The company declined to specify the details of the violation, citing confidentiality and ongoing internal review. Industry analysts have noted that the abrupt removal raises questions about OKX’s internal controls and the pressures faced by employees in the quick-evolving blockchain landscape.
Following the announcement, OKX President Hong Fang posted a statement on social media accusing an unnamed competitor—believed by many to be Binance—of engaging in what he described as “predatory poaching.” Fang claimed that certain firms in the industry have been using “sugar-coated bullets” to lure employees away with inflated compensation packages, only to later abandon them. The comments have drawn widespread attention and reignited discussions about hiring ethics within the crypto platform ecosystem.
Talent war and competitive dynamics
Reports from multiple industry outlets, including CoinSpeaker and AInvest, suggest that OKX’s management believes its rival has targeted nahead 100 of its mid- and senior-level staff members over the past year. The alleged salary offers ranged from 100% to 500% above market rates. In response, OKX has introduced a retention initiative that allows employees to present competing offers for matching or alternative compensation.
The escalating competition highlights a broader trend in the digital asset sector, where the race to attract experienced blockchain engineers, product managers, and compliance professionals has intensified. With the launch of OKX’s X Layer network earlier this year, the company has sought to position itself as a leader in on-chain innovation. However, internal instability or perceived leadership turnover could affect investor and developer confidence.
The removal of Felix Fan has also prompted mixed reactions from the crypto community. Some observers have expressed concern that the lack of transparency could undermine confidence in X Layer’s governance framework. Others argue that OKX’s public stance demonstrates a commitment to ethical conduct, even amid fierce industry rivalry.
Meanwhile, online speculation about Fan’s alleged activities continues to circulate. Some unverified reports claim that his dismissal may have been linked to private token-related dealings, though neither OKX nor Fan has confirmed these claims. Analysts caution that such rumors, if left unaddressed, could harm the brand reputation of emerging layer-2 networks and influence community trust.
The incident underscores the growing tension between maintaining ethical standards and sustaining competitive advantage in the crypto industry. As platforms expand globally and diversify their product offerings, governance transparency and talent retention are emerging as key diverseiators.
OKX has stated that it will continue to enforce strict compliance standards and hold its team to high ethical expectations. The competitor implicated in the allegations has not issued an official response. For now, the crypto market awaits further clarification on the internal investigation and its implications for X Layer’s future.
The episode reflects a broader shift in the digital asset sector, where reputation, culture, and human capital are becoming as critical to success as technology and liquidity. As OKX navigates this internal dispute, its response may set a precedent for how major platforms manage both corporate ethics and competition in the evolving Web3 economy.
