OKEx’s cross-chain recovery program has retrieved more than $400m of lost crypto

The exchange has announced that its cross-chain recovery program has successfully retrieved more than $400 million worth of misplaced cryptocurrency

Cryptocurrency exchange OKEx’s cross-chain recovery program has successfully retrieved more than $400 million worth of misplaced crypto coins and returned them to users since its implementation, according to a press release shared with Coin Rivet.

The exchange states: “Depositing into an incorrect address is a very common but also frustrating mistake that users can make. Because of the irreversible nature of blockchain, recovering lost digital assets can be very dangerous and time-consuming.

“Many exchanges find the process too complicated and are not willing to do this for their customers.”

However, the Malta-based OKEx exchange has said it is committed to providing a trusted ecosystem for everyone to access digital assets and endeavours to safeguard the assets of every user, including offering a recovery program for cross-chain deposits.

OKEx’s cross-chain recovery program has been active since January 2018 and has performed six major successful recoveries of cross-chain assets for thousands of customers.

OKEx is now reporting that it has successfully retrieved more than $400 million worth of crypto tokens from 3,823 transactions, including Bitcoin, Litecoin, Ethereum, and USDT.

The press release continues to state that user asset security is the exchange’s “top priority”. In order to maintain its high levels of security, OKEx is constantly upgrading its security measures, including adopting multi-signature technology.

However, users are reminded to exercise extreme care and caution when depositing tokens.

In recent news, it was announced that OKEx will be joining forces with CoinMarketCap to participate in the ‘Data Accountability and Transparency Alliance’ to help halt the increasing levels of misinformation in the market.

Interested in reading more stories relating to the OKEx cryptocurrency exchange? Discover more about OKEx’s plans to launch ‘OKChain‘ this summer.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.


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