OKEx Resolves Futures Price Slip Impact As Trader Threatens Suicide

Posted by William Suberg on

OKEx has confirmed it is correcting a Bitcoin futures price mishap that saw prices drip to $4800.

Hong Kong cryptocurrency exchange OKEx announced it would take steps to address its Bitcoin futures contracts March 30 after “abnormal” pricing saw one user even threaten suicide at its head office.

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.


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