Blockchain Transparency Institute (BTI) Accuses OKEx of Orchestrating DDoS Attack Due to Report


The Blockchain Transparency Institute (BTI) has published a new report that showed which major exchanges were engaged in wash trading. OKEx, which was one of these companies, and is also being accused of orchestrating a DDoS attack on the site of the BTI.

BTI’s report has shown that Coinbase, Kraken, Upbit, and Poloniex are among the cleanest exchanges while OKEx is doing a lot of wash trading, which may be as high as 90%. OKEx then affirmed that the report was wrong and it was inaccurate.

After that, a DDoS attack was made against BTI. The institute then claimed on Twitter that “someone” planned an attack on the site to reduce their ability to share the reports and marked OKEx on the tweet. It was pretty clear that the exchange was indirectly being accused of being the party behind the attack.

In the report, BTI affirmed that most cases of wash trading happen with permission from the upper management, but some of them happen without them knowing about it. In any case, BTI offered to share information with OKEx in case the company intends to improve the quality of its services.

The issues continued as the CEO of OKEx, Jay Hao, complained that BTI changed its information about the amount of wash trading in OKEx just a few days later. It was 90% before and 73.22% when he tweeted. He also demanded an apology, which was ignored by BTI.

OKEx also officially confirmed that the exchange has a surveillance team in place to monitor any suspicious traders and that their system is secure and healthy.

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