Counterparties Could Foot the Bill For $416 Mln BTC Futures Trade Shortfall on OKEx
Cointelegraph
Published Aug 03, 2018 12:15PM ET
Counterparties Could Foot the Bill For $416 Mln BTC Futures Trade Shortfall on OKEx
Crypto exchange OKEx has issued an official statement today, August 3, in response to its forced liquidation of a colossal misfired Bitcoin (BTC) futures trade worth a notional $416 million that was initiated by an unidentified problem trader earlier this week.
OKEx, currently the world’s second largest exchange by traded value, has said that its risk management alert system was immediately triggered when the long position was initiated by an anonymous futures trader at 2 a.m. (Hong Kong Time) July 31.
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Written By: Cointelegraph
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