CoinVoice has recently learned that, according to an official post from OKX on social media, solid evidence has been found showing that multiple associated accounts collaboratively used a large amount of OM to collateralize and borrow USDT, artificially raising the price. After the risk control team intervened, the counterpart refused to cooperate, and OKX subsequently took over the relevant accounts. Shortly thereafter, OM plummeted, and OKX only liquidated a minimal amount of OM, with the related losses fully covered by the OKX security fund.

Multiple third-party analyses indicate that the price crash was primarily triggered by perpetual contract trading on platforms other than OKX, raising questions about the source of the abnormal OM and its highly concentrated token control. The OKX security fund operates entirely as designed.

Currently, OKX has submitted complete evidence to regulatory and law enforcement agencies, with multiple legal proceedings underway. [Original link]