TechFlow reports, OKX issued an official statement saying that due to the overall market downturn on January 23, OKB's price fluctuated accordingly. After touching 48.36 USDT at 17:07:26, a series of large leveraged positions were liquidated successively. Market conditions further drove the price down, triggering additional liquidations in staking loans, margin trading, and cross-currency trading, ultimately causing the price to drop rapidly to 25.1 USDT. The token price has since returned to normal.
OKX sincerely apologizes for the losses and impact caused by the above incident and has established the following solutions:
1/ The platform will fully compensate users for any additional losses incurred due to abnormal liquidations, including those from staking loans, margin trading, and cross-currency trading. The specific compensation plan will be announced within 72 hours.
2/ The platform will further optimize risk control rules, liquidation mechanisms, and tiered margin levels for spot margin trading and staking loans to prevent similar incidents from occurring in the future.
