Dubai OKX self-selected transactions are gone

The disappearance of self-selected transactions from Dubai OKX accounts on August 22, 2023, raised significant concerns among users, leading to compensation efforts and enhanced security measures.

Oct 24, 2024 at 02:31 am

OKX Self-Selected Transactions Disappear from Dubai

Background:

OKX is a major cryptocurrency exchange based in Malta. It has been operating since 2017 and offers a wide range of trading options, including spot, margin, and futures trading.

Incident Details:

On August 22, 2023, users on Dubai OKX, the exchange's local branch, reported that their self-selected transactions were missing from their accounts.
The affected transactions were executed both on the spot and futures markets.
OKX initially confirmed the issue and stated that an investigation was underway.

Impact:

The disappearance of self-selected transactions caused significant confusion and concern among Dubai OKX users. Many users lost substantial funds as a result.

Investigation and Response:

OKX initiated a thorough investigation into the incident. The exchange subsequently stated that the missing transactions were due to a technical error that occurred during a system upgrade.

OKX's Response:

OKX expressed regret for the inconvenience caused to its users and pledged to compensate those affected by the error.
The exchange implemented additional security measures to prevent similar incidents from occurring in the future.

Recovery Process:

OKX worked with affected users to verify and process refund requests. The recovery process took several weeks to complete.

Lessons Learned:

The Dubai OKX incident highlights the importance of robust security measures in the cryptocurrency industry. It also underscores the need for exchanges to be transparent and responsive in addressing technical issues.

Conclusion:

Although the Dubai OKX incident was a serious setback, the exchange's handling of the situation demonstrated its commitment to its users. The incident also served as a reminder of the potential risks involved in cryptocurrency trading and the need for careful consideration before making any investments.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

ALPHA

$0.1907

59.72%

Trade Now
CAIR

$0.6106

58.21%

Trade Now
XPR

$0.0053

54.95%

Trade Now
FWOG

$0.0993

41.50%

Trade Now
AIC

$0.5247

41.31%

Trade Now
MWC

$31.2597

37.27%

Trade Now

Latest Crypto News

Super Bowl LIX novelty and proposition bets are everywhere this week.
2025-02-05 02:36:00
Bitcoin Was the Safe Haven Asset We All Needed
2025-02-05 02:36:00
Rare 50p coin minted to mark Brexit day is selling for £3,000 on eBay
2025-02-05 02:36:00
Qarden Token Announces Major Expansion of Its Ecosystem Through Advanced DeFi Integration
2025-02-05 02:36:00
TRIP: The Next Cryptocurrency Investment Opportunity That Could Turn 100 Dollars into 50,000 USD
2025-02-05 02:36:00
R.J. White Locks In His FanDuel $5 Million Touchdown Jackpot Strategy for Super Bowl 59
2025-02-05 02:36:00

Related knowledge

How to buy coins on Binance mobile version

Feb 04,2025 at 07:36pm

Key Points:Set up a Binance accountFund your Binance accountFind the coin you want to buyCreate a buy orderReview and confirm your orderStep-by-Step Guide:1. Set Up a Binance AccountDownload the Binance app from the App Store (iOS) or Google Play Store (Android).Create an account by providing your email address, password, and phone number.Verify your id...

How to view the market value ranking on Binance

Feb 03,2025 at 09:42am

Key PointsBinance is one of the leading cryptocurrency exchanges in the world.Binance provides a variety of features, including the ability to view the market value ranking of cryptocurrencies.The market value ranking is a list of cryptocurrencies, sorted by their total market capitalization.The market capitalization of a cryptocurrency is calculated by...

How to trade after recharging on Binance

Feb 03,2025 at 09:36pm

Key PointsUnderstand the Binance platform and its features.Fund your Binance account through various methods.Choose the right trading pair and order type.Monitor your trades and adjust your strategy as needed.Explore advanced trading options for increased efficiency.Detailed Guide on How to Trade After Recharging on Binance1. Understanding the Binance P...

How to create an address for withdrawal from Binance

Feb 05,2025 at 12:31am

Key Points:Understand the concept of cryptocurrency addressesGenerate a new address for withdrawal on BinanceVerify the address before withdrawing fundsSecurely store your cryptocurrency addressesMonitor your withdrawal transactionsHow to Create an Address for Withdrawal from Binance1. Understand Cryptocurrency AddressesA cryptocurrency address is a uni...

How to recharge Binance with QR code

Feb 03,2025 at 10:36pm

Key Points:Utilize Binance's QR code for a seamless recharge experienceUnderstand the process of generating a QR code for Binance depositsIdentify various methods for recharging Binance through QR codesExplore the advantages and security aspects of using QR codes for Binance rechargesComprehensive Guide to Recharging Binance with QR CodeStep 1: Generati...

How to buy spot from Binance

Feb 04,2025 at 05:24pm

Key Points:Understand the concept of spot trading on Binance.Create a Binance account and complete KYC verification.Fund your Binance account with supported currencies.Navigate the Binance spot trading interface.Place a spot trading order: Market order or limit order.Manage your spot trading portfolio and track orders.How to Buy Spot from Binance: A Com...