Okex, a Chinese crypto exchange based in Hong kong, has made another significant declaration regarding its decision to roll back the futures contracts which liquidated a huge sum of the clients’ money. After this incident, the exchange was found apologizing to its clients, ensuring that they would try their best efforts to prevent such unfortunate incidents.
Okex is now trying to ward off the rumors, spreading in the bitcoin community. The officials have published a statement that hopes of winning back their clients’ trust. The company has been accused of enabling forced liquidations by tampering with the prices.
Okex has stated: “The price of BTC quarterly futures contract was manipulated by a group of people, making it fall significantly below the BTC index. To protect the interests of our customers and to eliminate the adverse effects induced, we decided to rollback the futures trading data”.
Okex is on the process of clarifying it’s customers. It has further explained: “OKEx provides a platform to allow customers to trade in our order books, but we are not directly involved in the trades. Moreover, all the transaction details are public. We, as a trading platform, do not make profit from the price volatility, but generate income from trading fees. We have not reason to, and have never and will not, manipulate the prices of any of our market”.
According to reports, the customers have been immensely angry and raged at this particular incident. One of the customers even publicly threatened to get suicidal after he lost about $10 million by the liquidation. The exchange has been facing a lot of threats and unwanted attention and this comes as no surprise after the unfortunate incident which has happened.
The company has finally voiced a warning for those spreading unnecessary accusations and has taken the stance to legally sue the person for any libel against the company.