💻 OKEx Director acknowledges "a lot of suspicious trade activity" on OKEx

When asked about wash trading and other suspicious activity on their exchange, Lennix Lai, Director of Financial Markets for OKEx, said, "We would acknowledge that." When asked if the exchange itself was engaged in wash trading, Lai answered, “Of course not.” “It takes time to build volume”, he said, “and one of the easiest ways, especially for some of the Chinese traders, is to wash trade some of the more illiquid pairs.” Lai also explained that the exchange is working hard to prevent this type of activity.