BTI Alleges OKEx of Orchestrating DDoS Attack Amid Wash Trading Report

The report initially claimed that 90 percent of trading volumes in OKEx are fake.

The Blockchain Transparency Institute (BTI) last week published a report showcasing the wash trading in major crypto exchanges and is now blaming OKEx for orchestrating a DDoS attack on its website.

Though according to the report, exchanges like Kraken, Poloniex, Upbit, and Coinbase are the cleanest exchanges, it pointed out that major exchanges like OKEx are recording 90 percent in faking trading volume.

This immediately attracted the attention of the exchange which claimed the report to be “not accurate and misleading.”

Though in a series of Tweets, BTI did not specify OKEx’s role in DDoS attack on its website, its hint was very obvious.

It also alleged that the attack was in coordination with the publication of an article on Cointelegraph which noted the exchange’s response to the report.

BTI also pointed out that the wash tradings are often allowed by some devs and the upper management remains in the dark of any information of such deeds. Fortunately, the agency is still willing to share its data with OKEx to improve the quality of crypto trading exchanges.

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An accurate report or exchanges are alarmed?

Jay Hao, chief executive of OKEx, also pointed out that within a couple of days of BTI has changed the wash trading percentage on OKEx from 90 percent to little more than 73 percent.

“We have a trading surveillance team working 24/7 to monitor the trades on OKEx. Any suspicious market manipulation such as self-trading will alert our system, the users involved will have their accounts suspended or terminated immediately. We also partner with AML companies and consistently upgrade our KYC system to ensure that our market is healthy,” OKEx noted in a statement to Cointelegraph.

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