- OKX Exchange is quickly making up for the losses of users who were affected by the OKB flash crash. They say they will give a detailed plan for compensation within 72 hours.
- OKX is working hard to make sure it is safe and secure for people to use. They want to improve their system so that it can handle problems better in the future.
Unexpectedly, the OKX exchange had a sudden drop in the value of its own token, OKB, losing over 50% of its value on January 23. The price dropped quickly from $50. 69 to $2510 This made people sell their stocks quickly, causing the market to be very unstable for a short time. Because of what happened, OKX is working on a plan to give money to users who were affected.
Revealing the OKB Flash Crash
The chaotic event happened at 9:07 in the morning. UTC and OKB quickly went back up in value to $47. 27 after the crash. OKX said that the wild changes in value were caused by automatic sell-offs when the token’s price went down from $50. 69 to $4836 OKX said sorry to people who were affected by the strange event and promised to pay them back for any money they lost because of it. An in-depth payment plan will be revealed in the next 3 days.
OKX has replied and has plans for the future.
OKX is working hard to make sure they can manage risks and handle situations better in the future. The exchange has promised to make its trading platform better by improving things like how much you can borrow to trade, rules to control risk for lending, and how trades are settled. Although the price of OKB has quickly gone up to about $47. 00 and a lot of people are trading it, there are still worries about how much of it is available and how easily it can be bought or sold.