PANews reported on December 13th that OKX issued a statement on its X platform stating that it had discovered conclusive evidence that multiple interconnected andPANews reported on December 13th that OKX issued a statement on its X platform stating that it had discovered conclusive evidence that multiple interconnected and

OKX: Evidence of manipulation of OM prices has been found; evidence has been submitted to regulators and legal proceedings have been initiated.

2025/12/13 11:43

PANews reported on December 13th that OKX issued a statement on its X platform stating that it had discovered conclusive evidence that multiple interconnected and colluding accounts used a large amount of OM as collateral to borrow a large amount of USDT, artificially inflating the price of OM. OKX's risk team correctly flagged this abnormal activity, contacted the account holders, and requested them to take corrective action, but they refused to cooperate. To control the risk, OKX took over these linked accounts. Shortly afterward, the price of OM plummeted. OKX only liquidated a small amount of OM, but the sharp price drop still resulted in substantial losses, all of which were borne by the OKX Security Fund.

Furthermore, multiple third-party analyses indicate that the price crash was primarily triggered by perpetual contract trading outside the OKX platform. The OKX Security Fund operates entirely as designed. OKX has submitted all evidence and documents to regulatory and law enforcement agencies. Several lawsuits and legal proceedings are currently underway.

Sorumluluk Reddi: Bu sitede yeniden yayınlanan makaleler, halka açık platformlardan alınmıştır ve yalnızca bilgilendirme amaçlıdır. MEXC'nin görüşlerini yansıtmayabilir. Tüm hakları telif sahiplerine aittir. Herhangi bir içeriğin üçüncü taraf haklarını ihlal ettiğini düşünüyorsanız, kaldırılması için lütfen [email protected] ile iletişime geçin. MEXC, içeriğin doğruluğu, eksiksizliği veya güncelliği konusunda hiçbir garanti vermez ve sağlanan bilgilere dayalı olarak alınan herhangi bir eylemden sorumlu değildir. İçerik, finansal, yasal veya diğer profesyonel tavsiye niteliğinde değildir ve MEXC tarafından bir tavsiye veya onay olarak değerlendirilmemelidir.

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UK crypto holders brace for FCA’s expanded regulatory reach

UK crypto holders brace for FCA’s expanded regulatory reach

The post UK crypto holders brace for FCA’s expanded regulatory reach appeared on BitcoinEthereumNews.com. British crypto holders may soon face a very different landscape as the Financial Conduct Authority (FCA) moves to expand its regulatory reach in the industry. A new consultation paper outlines how the watchdog intends to apply its rulebook to crypto firms, shaping everything from asset safeguarding to trading platform operation. According to the financial regulator, these proposals would translate into clearer protections for retail investors and stricter oversight of crypto firms. UK FCA plans Until now, UK crypto users mostly encountered the FCA through rules on promotions and anti-money laundering checks. The consultation paper goes much further. It proposes direct oversight of stablecoin issuers, custodians, and crypto-asset trading platforms (CATPs). For investors, that means the wallets, exchanges, and coins they rely on could soon be subject to the same governance and resilience standards as traditional financial institutions. The regulator has also clarified that firms need official authorization before serving customers. This condition should, in theory, reduce the risk of sudden platform failures or unclear accountability. David Geale, the FCA’s executive director of payments and digital finance, said the proposals are designed to strike a balance between innovation and protection. He explained: “We want to develop a sustainable and competitive crypto sector – balancing innovation, market integrity and trust.” Geale noted that while the rules will not eliminate investment risks, they will create consistent standards, helping consumers understand what to expect from registered firms. Why does this matter for crypto holders? The UK regulatory framework shift would provide safer custody of assets, better disclosure of risks, and clearer recourse if something goes wrong. However, the regulator was also frank in its submission, arguing that no rulebook can eliminate the volatility or inherent risks of holding digital assets. Instead, the focus is on ensuring that when consumers choose to invest, they do…
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