The famous exchange published an announcement stating that this altcoin project has manipulated the market, causing significant price fluctuations. As Kriptokoin.com, we have compiled the warnings given by the stock market for this altcoin for you.
Warning came for this altcoin
OKX, one of the leading cryptocurrency exchanges, recently released an announcement stating that the CELT token project has manipulated the market, causing significant price fluctuations. Following this, the project finally agreed to return 1.3 million USDT after contacting OKX. In light of these developments, OKX froze and deducted 2.01 million USDT from five suspicious project accounts. Additionally, the platform will donate 1 million USDT and airdrop as compensation to users who have suffered losses.
After receiving inquiries from multiple users regarding CELT’s significant price fluctuations, OKX conducted a thorough investigation into the matter. The exchange announced that it does not have any strategic partnerships with the CELT project. In addition, OKX Ventures invested 10,000 USD in the GameFi project in September 2021, and the investment was locked in the OKX Ventures account without any action.
On February 26, the CELT project announced the launch of a new blockchain game. However, on February 27, several KOLs started promoting the project on social media platforms under the non-OKX authorized name ‘OKX Prodigy’.
Suspicious accounts detected
After the investigation, OKX identified five suspicious accounts with a total value of 714,381 USDT and immediately froze them. Some assets were already transferred from the platform, but 1.3 million USDT was returned after communication with the CELT project.
OKX reiterated that there is no evidence of internal employee involvement in market manipulation. However, the exchange welcomed any evidence from users that any OKX employees were involved, and strict action will be taken after verification.
In accordance with OKX’s terms of user service, which prohibits market manipulation and other malicious activities, the exchange will deduct the entire balance of 2,014,381 USDT from the five suspicious accounts identified during the investigation. In addition, OKX will donate 1 million USDT from its own funds to users who purchased CELT and suffered losses between February 25 at 12:00 HKT and February 28 at 12:00 HKT, and will airdrop a total of 3,014,381 USDT.
As a result, OKX has assured its users that it has no special affiliation with any project other than OCD and OKT. The exchange urged users to be cautious and beware of false advertisements, as the digital asset market is volatile and carries high investment risks. Specific airdrop details will be announced within 48 hours, as the calculation rules are relatively complex and data analysis takes some time.
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