The second-largest offshore cryptocurrency exchange, OKX, has identified a significant gap in its Web3 Wallet concerning the trading market of SATS (Ordinals). A noticeable number of fake SATS tokens began appearing in the wallet’s pending orders, leading to user dissatisfaction and outcry.
In response to the issue, users on social media platform X organized a campaign demanding that OKX halt the trading of SATS tokens to prevent individuals from purchasing the fraudulent tokens and suffering financial losses.
Heeding the call of its users, OKX swiftly suspended all trading of SATS tokens within its Web3 Wallet. The exchange also temporarily removed the altcoin from its wallet listing.
OKX’s Web3 Wallet is designed to secure and transfer user assets, facilitate crypto swaps, engage in NFT trading, generate yield, and more, all while eliminating the need for third-party involvement. Control over asset protection and storage is handed directly to users, and the wallet also addresses issues of data theft and content censorship by leaving data control in the hands of the user.
In summary, the OKX Web3 Wallet is an all-in-one solution that allows users to store, swap, earn, and manage their cryptocurrencies and NFTs across more than 60 different blockchains.