Popular Crypto Exchange – “OKX”, Alleged of scam Operation

The second largest exchange,OKX,with over $10 billion liquidity in trading volume ,has been trolled for been deceptive in their operation.

Amidst  their recent global development, gaining a regulatory approval in Dubai and monthly proof of reserves ,OKX faces a saga, questioning it’s transparency and fairness

The accusers to this claim is the lastest token network called the ICE token which was listed firstly on OKX on January 19th.

The ice network , pioneers of the Ice token alarmed on the restrictive trading practices experienced by their users on OKX exchange since it’s listing .

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After an agreement and assurance from OKX to Ice network guaranteeing a swift transaction,Ice complained of user discriminations enforced on ice users.

Hearing the claim, restrictions were placed on users as many users were given higher access while some were belittled.

Also in the areas of trading capabilities, many users were restricted from full access which by ice ,is an over ride on the local regulation.

Most users received the ice token distributed and were restricted from trading whilst some could not see ice on the exchange.

When all these scenereos were experienced , Ice on their channel tagged the OKX exchange as a scam.

Responding to this allegation , OKX founder Star Xu had this to say;

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“OKX always has different listing policy in different jurisdictions based on local regulation requirements and retail customer protection perspective. For example, a token open to A country’s customer doesn’t mean it’s accessible to B country’s customers. It’s our policy for long time. It’s sad for the inconvenience and misunderstanding between our teams. We will keep to work with your team and try our best to satisfy the customers.”

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Moreover, this sage is a critical one and can tarnish the reputation of the popular exchange OKX in the long run as this poses a threat on the exchange transparency and costumers trust

 

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Updated: January 24, 2024 — 12:21 pm

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