OKX Seizes 2M USDT Associated to Market Manipulation


In keeping with a press launch issued by cryptocurrency change OKX on February 28, the corporate mentioned: seized 2,014,381 (USDT) from 5 accounts suspected of participating in “malicious market manipulation” of Celestial (CELT) tokens. As informed by OKX, on February 26, Celestial builders introduced the creation of a brand new blockchain sport. Shortly thereafter, the Celestial developer allegedly launched his social media marketing campaign to advertise the brand new sport utilizing OKX branding, which the corporate mentioned was unauthorized. On account of among the exercise, the worth of the CELT token practically doubled inside his two days, earlier than dropping greater than 50% within the subsequent 24 hours to $0.002129 on the time of publication.

In response to insider buying and selling consumer allegations, OKX defined that the change, via its subsidiary OKX Ventures, invested $100,000 within the Celestial GameFi undertaking in September 2021. The “no proof” accounts of insider buying and selling involving OKX employees have been “no buying and selling” and have been found upon investigation.

CELT Token noticed intense buying and selling periods earlier than and after the announcement of a brand new blockchain sport. | | Supply: (CoinMarketCap)

Maintain studying on Cointelegraph

See also  Ethereum Shapella improve able to go dwell on testnet


Please enter your comment!
Please enter your name here

Share post:




More like this

Funny Underwear for Women: Adding a Touch of Playfulness to Your Lingerie Collection

Gone are the days when lingerie was only meant...

MultiversX Labs Broadcasts First Tremendous App xPortal to Ship Distinctive Web3 and Metaverse Experiences

At a turning level within the improvement of digital...

Coinbase is including one other layer to its enterprise by the blockchain area

To get cryptorace's roundup of the largest and most...

Derivatives Information Spotlight Constructive Sentiment and Confidence for Additional Ups amongst Crypto Merchants

The latest weak point within the cryptocurrency market did...