Sources say the man threatened to commit suicide in front of OKEx's Hong Kong office. The trader claimed he lost a million dollars due to the unexpected liquidation of futures contracts and threatened to drink poison if the matter was not resolved. But many facts related to this incident are still unknown.
The past few days have been stressful for Bitcoin owners as the price of the currency continued to fall. The other day we wrote that OKEx exchange announced the suspension of trading in Bitcoin futures due to suspicions of collective manipulation of the price of this cryptocurrency. The incident destroyed hundreds of contracts.
Due to this event, OKEx has blocked all transactions: all withdrawals are currently suspended and deposits are frozen.
The OKEx futures market has been underperforming compared to other exchanges lately. This is quite strange, since their spot price does not show negative dynamics. There is even talk of liquidating the platform, given the strange events of recent days. As a reminder, OKEx has offices in Belize and Hong Kong and is one of Asia's largest cryptocurrency platforms, with over 20 million customers in over 100 countries.
Relying on centralized trading platforms will always come with risks. These companies control users' funds at all times and do not provide an absolute guarantee of the safety of investments.
Unfortunately for cryptocurrency holders in a market where volatility is so high, prices are likely to continue to decline. Someone is clearly purposefully pushing down the Bitcoin rate. Despite promising technical developments, the leading cryptocurrency appears to be continuing its decline.
Events such as these are yet another reminder to think twice before investing large sums in Bitcoin.
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