Prominent cryptocurrency exchange OKX One altcoin with a project CELT announced that he manipulated the token market and that after contacting them, $ 1.3 million was returned.
OKXannounced that it will deduct 2 million dollars from the suspicious project account due to market manipulation, and that it will add 1 million dollars and distribute it as an airdrop to the investors who have suffered losses.
OKX’s CELT announcement went like this:
“We launched an investigation on February 28 due to price fluctuations in CELT and identified five suspicious accounts mediating transactions and froze their assets.
The project agreed to return 1.3 million.
We were unable to identify any links to any OKX employees involved in the incident.
A total of $3 million will be airdropped to users who purchased CELT between February 25-28 and suffered losses.
We will publish the distribution rates later.”
After the allegations, a response came from the CELT project team. The response is as follows:
“Thanks to OKX for exposing the manipulation.
The event was conducted by staff collaborating with an external market maker.
As a project, we took serious measures to solve the problem and collected 2 million dollars as compensation.
The project team accepts all of OKX’s punitive measures. We deeply apologize for the inappropriate behavior that violated OKX’s user service agreement and caused the losses.”
After the event was heard CELT It lost nearly 60% of its value.
1. Thanks to OKX for investigating and addressing the recent market manipulation incident. The event was perpetrated by internal staff colluding with an external market maker.
— Celestial (@GameCelt) February 28, 2023
*Not investment advice.
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