An unknown future trader engaged in a big mistake on Bitcoin, unable to cover their losses, counterparties kept at risk and threatened one confidence among the world's biggest cryptocurrency places.
The OKEx of a Hong Kong-based exchange of more than $ 400 million in Bitcoin Futures, which has topped the list of the 4-digit synccode code on the list of the most crypto platforms. The name will be named because he is not authorized to talk about the media.
Although OKEx has moved to suspend the position, this week has been yet to cover the deficit of the trader in a down market for Bitcoin, the person said.
In Hong Kong, on Friday afternoon, the settlement period of 4 settlement still exists and exceeds the size of the exchange's insurance fund, the futures traders who have received incompetent profits at OKEx can be forced to accept the loss due to their "Clubsback" policy details on the OKEx website, the person said . Okayx does not expect that this function will affect the efficiency of the functioning exchange, he said.
Although clawbacks at the OKAX are not unprecedented, the size of the problematic velocity has attracted attention across the whole of Asia's Cripton Circle. It emphasizes the risk of trading on low-paid virtual currency locations, which often allows higher levels of leverage and the lack of security is expected from investors' regulated exchanges. The crypto platform has been confused by hacks and market manipulation over the last few years, the spectacular swing of Bitcoin and the increasing attraction of new traders from around the world.
"Everyone is talking about it," said techno-based Bitcoin.com consultant Jack Smith, who told XTrade Smith that the systemic risk was perhaps included, but there might be some flashing effect on this episode market. "The main question is how to handle it," he said.
According to Lenx Lai, the director of the Oaksx, via e-mail, the exchange can give a statement on Friday. Blogger profile pictures
In a statement on his website last month, OKEx has defined changes in its margin rules and the method of lucritation that stated that "the reduction in the size of the bankruptcies is greatly reduced" and the clawbacks will be less frequent. Exchange, which allows clients to lift their positions for 20 times, said that changes will start running in September. Before starting client futures, clients have to pass a quiz on OKEx's rules.
Co-established Trantian Cooland, a former Morgan Stanley Trader, co-founded by the Californian trading firm Amber AI Group, is involved in the Clubbax crypto market, and is forced to reduce the loss of clients when they use them to compromise the customer. Publish such exchanges. "This is a strange process," Kullander said.
Bitcoin, the biggest cryptokermanman of the market price, has suddenly dropped 3.2 percent to $ 7,309 in Hong Kong, and this week it increased to 11 percent. This year 49% has shrunk