OKX Offers up to 500 OKB to Impacted BLUR Customers
OKX has announced that it will be compensating its users for the inconvenience caused by a delay in deposits of the BLUR token on February 14, 2023. The delay triggered the platform’s risk control measures, causing slower deposit times and impacting users’ ability to trade. The exchange has apologized for the inconvenience caused and is taking measures to ensure that such incidents do not occur in the future.
When #OKX listed $BLUR at 6:30 pm on Feb 14 (UTC), a large volume of deposits triggered our risk control measures, resulting in slower deposit times.
We understand the frustration this caused the $BLUR community and will therefore compensate each affected user up to 500 $OKB.
— OKX (@okx) February 15, 2023
OKX has a reputation for putting its customers first, and it is committed to providing excellent service. As part of this commitment, the exchange has announced that it will provide compensation of up to 500 OKB per user to those who were impacted by the incident. The compensation will be directly deposited into users’ funding accounts within the next three business days.
Compensation Plan
To be eligible for compensation, users must have initiated a BLUR deposit and completed 12 confirmation blocks between 6:30 pm and 7:06 pm UTC on February 14, 2023. They must also have had an actual deposit credit occur and appear in their funding account at 7:06 pm UTC or later on the same day. If a user had to wait for 10 minutes or longer for their deposit to appear in their funding account, they will be eligible for compensation.
The compensation will be calculated at a rate of 500(BLUR):1(OKB), which means that for every 500 BLUR tokens that were delayed, a user will receive 1 OKB. For instance, if a 40,000 BLUR deposit is found to have been delayed and eligible for compensation, the user will receive 80 OKB (40,000 / 500 = 80). The maximum compensation per user is 500 OKB.
Commitment to User Trust
OKX has taken this incident seriously, and it is committed to maintaining the trust of its users. The exchange has assured its customers that it will continue to improve its services and take measures to prevent similar incidents from happening in the future. The compensation plan is just one way that OKX is demonstrating its commitment to its users and upholding its reputation as a leading cryptocurrency exchange.
