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I did a similar thing with OKEx in 2018. Managed to accrue around $300,000 USD worth of BTC, but only managed to withdraw around $15k before I was permanently b
by mgraczyk 3y ago
I did a similar thing with OKEx in 2018. Managed to accrue around $300,000 USD worth of BTC, but only managed to withdraw around $15k before I was permanently banned. Exchanges at the time and since aggressively market make their own books for various reasons, and were generally not careful back then about risk management.
In a strange twist I ended up doing some contract work for OKEx a few years later and was able to confirm some of the details about what they were doing on their end that led to the bad trades.
- quanto 3y agoI find it quite surprising as OKX (OKEx) is an established player in the ecosystem. Did the withdrawn $15k at least cover your starting capital?
- mgraczyk 3y agoYeah it's long story but I deposited a token I was able to mint via a bug I found in the smart contract. It's called "BatchOverflow" if you want to see the details. So no starting capital
- jkhdigital 3y agoOKX used to be quite sketchy but managed to hang around long enough to bring the grown-ups in. I was arbitraging across like 8 exchanges back in 2018 and OKEx definitely gave me the most pause. But, they had minimal verification requirements and leveraged spot trading which opened up a lot of creative trades so I couldn’t resist.