OKX is preparing reports following a dramatic 90% crash in the value of the OM token, which CEO Xu labeled a major scandal. The incident led to a loss of $5.5 billion in market value, highlighting concerns about transparency and market stability.
This event has elicited responses from major stakeholders, with CEO John Patrick Mullin attributing forced liquidations by centralized exchanges as a key factor. He emphasized the need for regulation and improved risk controls in the industry.
Analysts predict this situation may spur tighter regulatory scrutiny and significant changes in token technologies to enhance investor confidence.
Full story here: https://coincu.com/332125-okx-om-flash-crash-reports
