Crypto traders who lost money on both OKEx and Huobi due to system crashes coinciding with the market crash two weeks ago will be compensated.

March 12th, an unforgettable day in the cryptocurrency market, or even the traditional market.

Traders and traders were rushing to exit with minimal damage which led to congestion of the OKEx and Huobi platform, which means that many traders have huge losses due to not completing their trades through them or invalidating their stop losses.

Both OKEx and Huobi are based in Malta and Singapore respectively, but both are in their home country of China.

OKEx and Huobi customers complained about their losses on March 12, with the platforms’ decision to offer users compensation.

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User protests at Huobi’s office in China:

On March 23, users gathered in front of Huobi’s office from China, demanding their rights.

A Huobi spokesperson said that some of the collectors weren’t even Huobi customers during the March 12 market crash.

Apparently only 4 of those present at the protests attempted to make a deal that day on the Huobi Global platform.

The same speaker added:

After repeated verification by the team during this period, Huobi Global’s trading system has remained basically stable.

While the system engine was responsible for a certain set of transaction delays, it did not affect normal operation.

Despite all this, Huobi is still determined to address all complaints against the possible failure of its system on March 12th, by submitting and receiving complaints at the following email address:

[email protected]

OKEx is faster to reach its affected customers:

It seems that the same incident was encountered by the OKEx platform as well.

The platform overhauled the system and resumed operations very quickly.

The platform also promised that the root cause of the problem had already been identified and that nothing similar to it would happen again.

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Besides, she started contacting the affected users to discuss compensation very quickly, she says.

Here is the text of her statement:

Currently, we have already reached out to most of the affected users and came up with a mutually satisfactory solution

While trading systems really need to be flexible and ready to receive a barrage of orders and large traffic, mistakes can still happen, and sometimes they happen globally.

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