Crypto exchange OKX has announced it intends to compensate users affected by the crash of its OKB token on January 23.
Yesterday around 9:00 GMT, the price of OKB, the platform's native token, experienced a sudden 48% drop in less than 15 minutes that was followed by a quick recovery.
However, the drop resulted in the asset's market capitalization declining by $6.5 billion.
The trading platform has committed to compensate users for additional losses caused by the abnormal liquidation of the asset. In particular, the exchange will share a specific compensation plan in the next 72 hours.
The company is working to comply with regulators' requirements. Thus, in December it announced the delisting of several privacy-focused coins, while this month it announced additional requirements for UK users to comply with new requirements from the local watchdog.