Announcement on the Investigation and Handling of BTG Futures Irregular Liquidations

Dear Valued Users,

On February 23, 2018, three abnormal overloss cont orders occurred in BTG0309 futures, namely: 16,000 cont sell to close long, 16,000 cont buy to close short, and 20,000 cont sell to close long, resulting in an overloss of 570 BTG. After investigation, User IDs 2081240 and 3787233 were found to have maliciously created liquidation orders and manipulated marketplace price through wash trading to obtain undue profits. Their undue profits were derived from the share of other customers' profits during clearing and delivery. To maintain the healthy development of the futures marketplace and protect the legitimate rights and interests of the majority of customers, and in response to actions that disrupt the marketplace, manipulate marketplace price, and maliciously create liquidation orders, the OKX platform has the right to take measures such as account suspension, in accordance with Article 6.2 of the 'OKX Virtual Futures Customer Agreement'.

The assets in these two accounts have been frozen. Regarding the overloss generated by the BTG0309 futures contract on 2018-02-23 16:17:22, 2018-02-23 16:19:27, and 2018-02-23 16:26:06, the proposed solution is as follows: The OKX platform will deduct the overloss from the profits of USER IDs 2081240 and 3787233. After clearing and delivery, and after unfreezing the aforementioned two accounts, the remaining profit will belong to the customer.

OKX

March 2, 2018