Coinone to Accept Claims for Damages from Nilion (NIL) Sell Function Suspension

Son Min

Summary

Coinone announced that it will proceed with accepting claims for damages due to the Nilion (NIL) sell function suspension incident.
The suspension of the sell function caused a price surge and market price discrepancy.
The related issue was immediately normalized, and they announced that they will strengthen preventive measures.

Coinone announced that it will accept claims for damages related to the suspension of the Nilion (NIL) sell function that occurred the previous day.

On the 25th (local time), Coinone stated on its official website, "During the process of supporting new trades for Nilion, the limit sell order function was temporarily suspended. This caused a surge in prices and a discrepancy with the market price," and "We are accepting separate claims for damages from customers who purchased at higher prices than the global market price during that time." Claims can be submitted through Coinone's online customer center.

The exchange said, "The related function was immediately normalized after the occurrence of the phenomenon, and we have completed our response," and "We will strengthen inspections and preventive measures across the system to provide a stable trading environment."

Meanwhile, Nilion, which was listed on Coinone the previous day (listing price 2,400 KRW), saw its limit sell order function suspended for about 14 minutes, causing the price to surge up to 50,000 KRW.

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