OKX seizes 2M USDT linked to market manipulation

OKX seizes 2M USDT linked to market manipulation

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In preserving with a press originate published by cryptocurrency alternate OKX on Feb. 28, the agency said that it seized 2,014,381 Tether (USDT) from 5 accounts suspected of enticing in "malicious market manipulation," of the Celestial (CELT) token. As steered by OKX, on Feb. 26, Celestial builders introduced the creation of a brand recent blockchain game. Quickly afterwards, the Celestial builders allegedly launched a social media campaign promoting the recent game utilizing OKX's branding, which the agency says was once unauthorized. As a partial outcomes of the actions, the CELT token nearly doubled in price within two days' time earlier than falling over 50% within the past 24 hours to $0.002129 at the time of publication.

Primarily basically based thoroughly on user allegations of insider purchasing and selling, OKX outlined that the alternate, via its subsidiary OKX Ventures, invested $100,000 into the Celestial GameFi mission in Sept. 2021. Nonetheless, the alternate acknowledged that the CELT tokens it received had been deposited into OKX Ventures' accounts "without any transactions," and "no proof" of insider purchasing and selling though-provoking OKX group was once chanced on as per its investigation.

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The CELT token seen wild purchasing and selling classes earlier than and after the announcement of a brand recent blockchain game. | Source: (CoinMarketCap)

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