Crypto exchange OKEx has issued an official statement today, August 3, in response to its forced liquidation of a colossal misfired Bitcoin (BTC) futures trade worth a notional $416 million that was initiated by an unidentified problem trader earlier this week.
OKEx, currently the world’s second largest exchange by traded value, has said that its risk management alert system was immediately triggered when the long position was initiated by an anonymous futures trader at 2 a.m. (Hong Kong Time) July 31.