In a message to traders, OKCoin’s exchange, whose quarterly futures market posted significantly lower BTC/USD readings than the global market this week, blamed the issue on users closing huge numbers of contracts “regardless of price.”
“OKEx has the right to warn against all unethical behavior such as malicious manipulation of prices, malicious influence on trading systems, restrictions on trading, shutting down of accounts, etc.,” the message read.
A blog post the exchange continues to update confirms that a rollback has completed, and that normal trading operations will resume shortly.
Despite officials’ attempts to contain the situation, however, it appears some users who saw huge amounts of money wiped from their holdings when OKEx’s futures dipped to just $4800 demand they take more responsibility.
In a video currently circulating on Twitter, an OKEx trader who reportedly lost 11 mln yuan ($1.75mln) in the fiasco is seen to threaten CEO with committing suicide by drinking poison at the exchange’s head office in Hong Kong.
Crypto Investing Risk Warning
Crypto assets are highly volatile. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest.
This is a high-risk investment, and you should not expect to be protected if something goes wrong.