Trader Threatened to Commit Suicide at Okex Office

Man lost about $ 10 000 000 in Bitcoins due to liquidation
30 March 2018   1703

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 to Launch Own ERC-20 Based Token

In total, 300 million OKB tokens have entered the public network and they have confirmed that are going to launch OKChain in June
29 April 2019   421

OKEx cryptocurrency exchange announced the launch of its own OKB token in the public blockchain. Starting from Monday, April 29, users will be able to display OKB tokens in wallets that support the ERC-20 standard, or in a cold storage in the exchange application.

In total, 300 million OKB tokens have entered the public network.

The developers also confirmed that they expect to launch OKChain in June. After the confidence that OKChain is working stably, OKB coins migrate from the ERC-20 standard to the main network of the new blockchain.

OKB tokens are intended primarily for the future decentralized exchange: they can be used to pay for transaction fees, as well as in decentralized applications based on OKChain. In addition, OKB will be used in the tokens' pre-sales, for voting and paying for the service fee of supernodals.

Of the 1 billion OKB, 700 million tokens are currently blocked. Of these, 300 million coins were originally to be distributed among OKEx users as part of a loyalty program. The remaining 400 million OKB will remain under the control of the OK Blockchain Foundation and Exchange teams. The lockout period will end in 2022.