The collapse of the market on March 12 put the trading platforms in difficulty

The crypto platforms were not prepared for the March 12 market crash, and some encountered temporary technical difficulties. Huobi and OKEx were among the exchanges that experienced such interruptions due to congestion. Some traders have suffered significant losses because of this.

The two platforms formed dedicated teams to process customer complaints and possibly provide compensation.

On March 23, a protest was held in front of the Huobi China office, the group accusing the company of not complying with its obligations. A Huobi spokesperson told local media that most of the protesters were not Huobi Global customers, while others did not conduct operations during the troubled period.

The Exchange has set up a special team to process all complaints. Those who have lost money because of problems with the system can send their complaint to [email protected]

OKEx has already resolved complaints after the March 12 market crash

The OKEx platform, which also encountered difficulties on March 12, said it “immediately repaired the system and resumed normal operations in a short period of time.”
The company said it had investigated the root cause and made sure that such incidents would not recur.

Also, any user whose transactions with perpetual contracts have failed because of the system will receive compensation. OKEx said that its customer support team has already started contacting customers who traded that day. The company said:

“At present, we have already communicated with most of the affected users and we have reached a mutually satisfactory solution”.