• 24 June, 2024
Market News

OKX Faces Crypto Alert: Fake Ordinals Spark Immediate Trading Halt

The cryptocurrency community is grappling with a warning about the OKX Wallet BRC20 marketplace. CertiK Alert reports indicate the presence of fake ordinals, prompting an immediate call to action: traders are urged to halt all transactions immediately. 

https://twitter.com/CertiKAlert/status/1741017094005965040

This revelation adds a layer of complexity to OKX’s recent decision, as the second-largest offshore exchange, the delisting and suspension of privacy tokens, including FSN, ZKS, CAPO, CVP, XMR, DASH, ZEC, and ZEN, coupled with their corresponding trading pairs.

OKX believes this decision is rooted in its commitment to maintaining a robust spot trading environment. The exchange, aligning with user feedback and its Token Delisting/Hiding Guideline, seeks to uphold stringent listing criteria, ensuring a trading environment characterized by high quality and performance standards. 

Users are urgently advised to manage their assets promptly, given the suspension of token withdrawals set to commence at 8:00 am UTC on March 5, 2024. Post-delisting, users can locate their assets under Assets > Funding > Untradable assets, underscoring the importance of timely user action to navigate these changes successfully.

Adding an unexpected layer to the narrative, OKX  received the ‘Best Technical Innovation Award’ at the Hong Kong Web 3.0 Annual Ceremony. This accolade reinforces OKX’s steadfast commitment to pushing the boundaries of technological advancements within the Web3 space. Frank Zhang, OKX HK Executive Director, accepted the award on behalf of the exchange during the ceremony held at Cyberport, Hong Kong, on December 21.

This recognition underscores OKX’s consistent dedication to innovation. This dedication is evident in introducing cutting-edge products such as the Smart Account, which facilitates gas payments with stablecoins.

Additionally, OKX has been a trailblazer in the Web3 space with the Ordinals Market, a platform designed for trading and inscribing BRC-20 and BTC NFTs. The award solidifies OKX’s position as a leading force in driving technological progress within the Web3 ecosystem.

The emergence of fake ordinals intensifies the complexity of the cryptocurrency landscape, necessitating an immediate cessation of trading. OKX’s commitment to a secure and efficient spot trading experience is evident in its proactive approach to delisting. This strategic decision aligns with the exchange’s dedication to maintaining a cutting-edge platform. 

The recent reception of the prestigious award further solidifies OKX’s pivotal role in shaping the future of Web3 technology. This recognition emphasizes the exchange’s continuous commitment to innovation and user-centric advancements. As OKX persists in optimizing its offerings in the ever-evolving cryptocurrency realm, stakeholders are strongly advised to stay informed about the ongoing developments.

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