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A significant gap was noticed between the Web3 Wallet of OKX, the second-largest offshore cryptocurrency exchange, and the trading market of SATS (Ordinals). As a result, a large number of fake SATS tokens began to appear in the wallet’s pending orders. This situation led to a reaction from wallet users.
Fake SATS Token Trading Draws User Ire
The major cryptocurrency exchange OKX’s Web3 Wallet has come into focus due to a concerning issue. A significant gap was noticed in the trading market of SATS’s Ordinals with the Web3 Wallet of the cryptocurrency exchange. Consequently, users started to see a multitude of fake SATS tokens in pending orders.
Following the backlash, users organized on social media platform X and began demanding that OKX halt the trading of SATS tokens to prevent individuals from buying the fake tokens and suffering financial losses.
OKX Acts Swiftly: All SATS Token Trading Suspended
In response to user demands, OKX took action. The cryptocurrency exchange suspended the trading of SATS tokens in the Web3 Wallet following the reactions. OKX also temporarily removed the altcoin from its wallet listing.
As is known, OKX’s Web3 Wallet allows users to secure and transfer their assets, swap cryptocurrencies, trade NFTs, earn returns, and much more in the easiest way possible. With the Web3 Wallet, the need for third parties in the protection and storage of assets is eliminated. The control of asset protection and storage is given directly to the users. Moreover, with OKX’s Web3 Wallet, data thefts and content censorship are also eliminated. Control of the data is left to the user.
In summary, OKX’s Web3 Wallet is an all-in-one solution that allows users to store, swap, earn, and manage their cryptocurrencies and NFTs on more than 60 Blockchains.
