OKEx to compensate users with generous rewards upon resuming withdrawals

Nov 25, 2020 • 3 min read

Malta, Nov. 24, 2020 — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, has announced the launch of a generous compensation and rewards program after the reopening of withdrawals on or before Nov. 27. As a way of thanking customers for their loyalty during the suspension period, the Malta-based exchange will be offering various incentives including one-time payments in proportion to users’ assets and transaction conditions, commission rebate cards and contract fee incentives every Friday starting Dec. 4, 2020.

Despite ensuring a continuity of service and maintaining business as usual across its product line, OKEx acknowledges that the temporary suspension of withdrawals caused inconvenience for its users and would like to compensate them for this — while also extending its sincerest appreciation for their continued support.

Trader confidence in the platform has remained high, with the latest data from skew revealing that, although the platform experienced an expected drop in trading volume, it was able to hold its position among the top three Bitcoin futures exchanges — and still leads the pack as the number-one derivatives exchange in terms of open interest, currently at $1.19 billion.

“We are very grateful to all our customers for their unwavering support and trust in us at this difficult time. We are also really encouraged by the data from skew revealing traders’ confidence. We know that we are nothing without them, and we want to demonstrate this by offering them generous rewards and incentives to ensure that OKEx remains their platform of choice,” commented OKEx CEO Jay Hao.

At the same time as providing an uninterrupted service on all other features of the platform, OKEx continued to reinforce security measures on the exchange and expand its services, remaining abreast of industry developments and continuing to broaden its digital asset offering, including supporting the recent Bitcoin Cash hard fork, listing the new crypto asset BCHA, and airdropping the tokens to all Bitcoin Cash holders’ accounts.

The exchange has also invested significantly in safeguarding user funds, improving the capability of both its hot and cold wallet storage and risk-management systems to flag any suspicious activity and prevent large malicious withdrawals from occurring. OKEx is now focused on improving its internal processes regarding private key holders to ensure the exchange can provide a full range of services to users at all times.

Jay Hao added:

“The safety of our users’ assets has always been the first and foremost priority. We are now working hard to improve and reinforce our internal security management to prevent future disruptions from occurring. Besides upgrading our infrastructure and compensating our customers, we will also be rolling out various initiatives to improve the overall user experience and ensure that OKEx continues to grow and flourish.”

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About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.