Dear WenX users,
WenX recently completed a system upgrade. This system upgrade optimized the base structure and updated a number of risk control strategies. The details are as follows:
- The time-limited token withdrawal strategy means that when some users trigger certain risk control strategies under certain scenarios, if users continue to purchase additional tokens, the withdrawal of additional purchased tokens will be restricted (the withdrawal restriction time is 36 hours, subject to the platform pop-up prompt). In addition to other functions or services, such as spot trading, margin trading, perpetual contracts, transfer, etc., will not be affected.
- After the update of the risk control strategy, the measures include: KYC face verification, time-limited token withdrawal, OTC trade restrictions, withdrawal restrictions, account restrictions, and others.
In addition, we will upgrade the risk control rules in the "Trading Rules", and once again emphasized that "You cannot sell accounts, buy and sell for others, or other high-risk behaviours such as buy coins from WenX OTC to other platforms/off-exchange groups to sell and take profit". Once such behavior is discovered, for instance, the user with an ongoing order has the right to choose not to trade, the platform also has the right to take measures including but not limited to delaying withdrawals, restricting trade, freezing accounts, etc; the platform does not assume any responsibility for any asset loss caused by the user's operation of the above-mentioned high-risk behavior and the restriction measures taken by the platform.
The WenX OTC team will continue to strengthen risk control to create a fair, safe and reliable trading environment for users.
18 January 2021