{"id":160596,"date":"2024-01-23T17:27:25","date_gmt":"2024-01-23T17:27:25","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=160596"},"modified":"2024-01-23T18:08:34","modified_gmt":"2024-01-23T18:08:34","slug":"okxs-token-nightmare-over-50-plummet-in-3-minutes-sparks-chaos","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/okxs-token-nightmare-over-50-plummet-in-3-minutes-sparks-chaos\/","title":{"rendered":"OKX’s Token Nightmare: Over 50% Plummet in 3 Minutes Sparks Chaos"},"content":{"rendered":"
OKX\u2019s native exchange<\/a> token, OKB, experienced a flash crash, plummeting by more than 50% in just three minutes.<\/strong> This sudden drop was triggered by a series of liquidations due to an abnormal price fluctuation.<\/span><\/p>\n The token\u2019s value dropped from a high of $50.34 to a low of $25.17 before recovering<\/a> to $47.75.<\/strong> The 24-hour trading volume surged by 2,100% to $79 million, according to CoinMarketCap. OKX, one of the leading cryptocurrency exchanges, confirmed that it would compensate users for losses caused by the liquidation cascade, including on-chain trades.\u00a0<\/span><\/p>\n Today, OKB experienced unexpected volatility. The market has quickly stabilized, and we're actively developing a compensation plan, set to be finalized within 72 hours.<\/p>\n We apologize for any inconvenience caused and are committed to enhancing our risk management protocols.\u2026 pic.twitter.com\/GxJ2M0dOS3<\/a><\/p>\n — OKX (@okx) January 23, 2024<\/a><\/p><\/blockquote>\n\n