The OKEx said that unusual transactions were registered on Friday morning, March 30, to manipulate prices for bitcoin futures contracts. As a result, prices were significantly different from the current rate of the first cryptocurrency.
As a result of the investigation, it was found that one of the users closed a large number of positions, not taking into account the current prices, resulting in the bitcoin price fell to unusually low levels.
Representatives of OKEx promise to make public the relevant transactions after the completion of a full investigation.
The Exchange team also refers to clause 6.2 of the user agreement, which grants it the right to control the accounts in the event of the detection of deliberate manipulation of prices.
To prevent forced-liquidations due to price differences after the settlements in "bi-weekly" and "quarterly" futures contracts, we will rollback the transactions as mentioned, and all futures contracts will be delivered at 00:00 Mar 31, 2018 (Hong Kong Time). Further announcement will be made if there are any changes in delivery time.
The exchange's team assures that the process of crypto and fiat trading has not been affected and continues to be carried out in normal mode.
In addition, in order to compensate for the inconvenience, the exchange will remove the commission for trading bitcoin futures from April 1 to 7.