Trader Threatened to Commit Suicide at Okex Office

Man lost about $ 10 000 000 in Bitcoins due to liquidation
30 March 2018   219

The OKEx exchange was again in the spotlight this Friday. First, information was received about questionable operations with bitcoin futures, and later it was added that a trader whose position, estimated at several million dollars, was eliminated, threatened to commit suicide in front of the company's office, claiming that the liquidation was made illegally. This is reported by News BTC.

According to Coin Panda on Twitter, as a result of operations on the exchange, the Chinese trader lost about $ 10 million in bitcoins. The liquidation was caused by a 30-40% drop of the bitcoin futures price for a short time. Traders, which don't use stop order daily weren't ready for this.

According to Coin Panda, a man who does not agree with this policy, came to the OKEx office with a bottle of dichlorophos, and promised to drink it. Whether he made any demands is unknown.

OKEx has not yet commented on the situation, but earlier the company acknowledged the fact of manipulating the price of futures and promised to roll back all transactions until the first suspicious application was placed.

OKEx Expands to Malta Following Binance

OKEx found the Malta government’s approach appealing and decided to grow OKEx exchange further on Malta
12 April 2018   100

At the end of March 2018 we have reported that the Binance cryptocurrency exchange was planning to open offices in Malta. It seems like the sunny island is very attractive for the exchanges, as OKEx has also announced today that it has met with Maltese government and regulatory leaders to discuss their legislative plans. OKEx found the Malta government’s approach appealing and decided to grow OKEx exchange further on Malta.

We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.
 

Chris Lee

CEO, OKEx

Moreover, OKEx plans to become a member of Malta Blockchain community, and the exchange will also participate in Malta’s Government sponsored DLT Delta Conference which will be held in October, 2018.

The Hon. Silvio Schembri  meets with OKEx Chief Risk Officer Tim Byun and Vice President Jason Lau Silvio Schembri meets with OKEx Chief Risk Officer Tim Byun and Vice President Jason Lau

Malta is striving to become a "blockchain island", for instance, the new Malta Digital Innovation Authority certifies blockchain platforms used by companies in the country. The government of Malta really wants to bring some peace of mind to businesses using distributed ledgers for cross-border payments.