Cryptocurrency exchange OKX has announced that it will compensate customers who suffered losses due to a bug on its platform that affected the trading of SUI altcoins.
The error prevented customers from canceling their orders, causing them to purchase SUI tokens at inflated prices.
According to OKX CEO Star Xu's statement on Twitter, customers who purchase SUI tokens higher than 1.3 USDT will receive compensation for the difference between the price they purchased and 1.3 USDT. The exchange will reveal more details about the compensation process soon.
Xu apologized for the inconvenience and assured customers that the error would be fixed as soon as possible to avoid similar incidents in the future.
For the $SUI market open problem, all customers who can’t cancel order and bought SUI higher than 1.3 usdt will get the compensation(fill price-1.3). Announcement includes details will release soon. We are so sorry for the inconvenience and will fix the trading system bug asap to…
— Star (@star_okx) May 3, 2023
Sui Network (SUI) is a layer-1 blockchain designed to make digital asset ownership fast, private, secure and accessible to everyone. It uses a delegated proof-of-stake consensus mechanism and a programmable transaction block model that allows complex and combinable transaction sequences to be executed in parallel.
The SUI altcoin was listed on most exchanges for the first time today, surpassing many major cryptocurrencies by a completely diluted market cap.
Sui altcoin price is trading at $1.34 at the time of this writing.
*Not investment advice.
