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Home » OKB Plummets Over 50%, OKX Investigating Xu Mingxing, Suspected Whale Dumping on Chain
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OKB Plummets Over 50%, OKX Investigating Xu Mingxing, Suspected Whale Dumping on Chain

Jan. 23, 2024No Comments1 Min Read
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OKB Plummets Over 50%, OKX Investigating Xu Mingxing, Suspected Whale Dumping on Chain
OKB Plummets Over 50%, OKX Investigating Xu Mingxing, Suspected Whale Dumping on Chain
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OKX Token OKB

As Bitcoin fell below 39K, there was a sudden oscillation of over 50%, followed by a quick recovery. OKX founder and CEO Xu Mingxing stated that the team will intervene and investigate to understand the reasons behind this.

OKB price plummeted

On-chain signal: Whales recently deposited 95.8 million USD worth of OKB

According to the on-chain data signal from Spot On Chain, a whale deposited 95.8 million USD worth of OKB (176,154 OKB) seven days ago.

After receiving these 176,154 OKB four years ago, ten wallets did not make any further changes until they deposited them into OKX on 1/16. These wallets are believed to belong to the same entity, but it is unknown whether they are the cause of the drastic decline in OKB.

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OKB
OKX
Xu Mingxing

Further reading
HashKey confirms OKX as a Series A investor, and the two will engage in deep cooperation in Hong Kong
OKX partners with McLaren Formula 1 team for an upgrade in 2024! The OKX brand logo will be showcased in 20 races.

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