Transaction Error Handling Guide

What is a “Transaction Error”?

A transaction error refers to a good-faith but unintended trade, such as mistakenly executing one user’s trade as another user’s when dealing with multiple counterparties simultaneously. If the price moves significantly in the opposite direction shortly after the trade, or if proper verification was not conducted before the trade, it will not be considered a transaction error. We expect institutional and high-volume users on the platform to have the experience and expertise to take the time to understand how to use the platform and products correctly, and to exercise reasonable care and verification when submitting and accepting quotes.

Friendly Reminder: OKX assumes no legal or financial responsibility for transaction errors.

How to Handle a Transaction Error?

The most important step after a transaction error occurs is to contact your counterparty as soon as possible to discuss a resolution. Since the platform cannot reverse any OTC trades agreed between users, the only way to resolve a transaction error is to negotiate the best solution directly with your counterparty. We recommend that users maintain professionalism and courtesy during discussions and problem-solving to foster an atmosphere of trust and respect among platform users.

What if my counterparty is anonymous?

In such cases, please contact your account manager or our customer support team through your usual channels on the platform. We will, while respecting the counterparty’s anonymity preference, explain the situation on your behalf and strive to find the best possible solution.

Disclaimer

This article/blog/announcement is for reference only. It is not intended to provide (i) investment advice or recommendations; (ii) an offer or solicitation to buy, sell, or hold digital assets; (iii) financial, accounting, legal, or tax advice. Holding digital assets (including stablecoins and NFTs) involves high risk and may experience significant volatility. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. For your specific circumstances, please consult your legal, tax, or investment professionals. You are solely responsible for understanding and complying with applicable local laws and regulations.