Blockemist exclusive | Amber AI declaration: OKEx must be at the mercy of supervision over 3 major abnormal manners to check on for suspected market manipulation.

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“OKEx received lots of problems” on Baidu hot search, Blockemist since November 15 exclusive information, some exclusive reviews on a huge amount of hedge money criticizing OKEx for improper procedure in BCH bifurcations. Bloomberg issued a similar statement yesterday, pointing out that some hedge funds have filed a problem with the Hong Kong Securities and Futures Percentage (SFC) against OKEx. Amber AI, a hedge account with encrypted property, feels that OKEx suspected of manipulating the market during the recent BCH bifurcation, forcing investors to liquidate futures contracts totaling more than $400m. Hedge account Consensus Systems said OKEx’s improper unwinding of futures contracts cost it $700000 and decided to reduce the use of OKEx as a trading platform.

Earlier, OKEx also responded to Lianwen: “We would like to reiterate that the implementation of early unwinding is to avoid a large-scale impact on the soundness of the market.” We also want to ensure that market participants cannot manipulate spot and futures market prices. After considering various hypothetical situations, we believe that closing positions ahead of time is the fairest and most sensible decision to keep up an orderly market. The decision has taken effect and we believe it is in the best interests of the customer. In short, our mission is to keep up a strong and healthy market. OKEx also issued a statement today.

In this regard, Blockemist ChainNews immediately received a reply from Amber AI, a hedge fund with encrypted assets.

Exclusive Amber AI statement: OKEx must be supervised for 3 major anomalies to check on for suspected market manipulation. OKEx’s declaration on Amber AI’s so-called fake accusations.

Hello, females and gentlemen, while we are deeply amused by the announcement made by the OKEx Exchange today and the inexplicable accusations against our organization Amber AI, we have decided to formally respond as follows:

  1. Amber AI writes “OKEx-It’s Time to Pay the Piper” on the company’s Medium, which is intended to expose to the industry and the public the following three major anomalies that occurred on the OKEx Exchange from November 14 to 18:

A. OKEx unilaterally delivered the BCH contract ahead of time, and the delivery price was extremely unreasonable (20% difference from the spot market), which contradicted the previous announcement issued by the exchange.

B. in the early morning of the 15th, there was a price limit issue in the OKEx exchange system, which made it impossible for customers to trade normally. Under the circumstances that the exchange could not place orders normally for 1-2 hours and all the management teams knew about it, the exchange chose to take an attitude of inaction, resulting in a large-scale explosion of positions and huge deficits. This way of working with the problems is diametrically opposed to the previous way of working with the “3ax 30 event”, which makes people suspect the reason and motive behind it.

C. OKEx has different statements about whether the loan BCH will repay the BSV. Several customers said they had received a call from customer service that they only needed to return one fork coin, while OKEx independently changed the rules and deleted the previous announcement after the fork incident, forcing all customers to return the two fork coins.

two。. The above three major abnormal behaviors have brought serious losses to a large number of trading individuals and institutions., Amber AI objectively stated the above events based on the evidence provided by various parties in the Medium article, and suspected the possible market manipulation based on the stated objective facts. At present, OKEx has not dared to make a positive response to the other two points except the first point, especially the repeated second point, that is, the second point, that is, the failure of customers to reduce their positions and close their positions, has occurred many times in its history, and there has been no positive response this time.

  1. We are deeply absurd that OKEx made an announcement to turn its attention to Amber AI and its accounts. Our exposure has nothing to do with whether Amber AI is an OKEx customer, trading in it, or making a profit. The focus of public opinion and condemnation in the industry is on the above three major abnormal behaviors made by OKEx during the period from November 14 to 18, and how to make the industry better subject to check out market manipulation, protect traders and guidance. This isn’t a contradiction between Amber AI or any corporation and specific and OKEx, but a question of how OKEx should fairly clarify these behaviors to the multitude of users who’ve suffered losses.
  2. In regards to to Amber AI Group, we’ve lots of trading accounts on OKEx, including institutional accounts of the business’s subsidiaries and personal accounts in the name of the primary founder. OKEx’s declaration about our accounts is completely incorrect. We can offer delivery information of multiple accounts as proof.
  3. Finally, I’d like to say thanks to OKEx for the moon cake present he delivered to Amber AI, a “nonexistent institutional customer” in Oct this season.