Traders have reportedly incurred losses after Hong Kong-based cryptocurrency exchange OKEx settled bitcoin cash futures contracts almost without warning ahead of last week’s hard fork.

According to a Bloomberg report Monday, the decision by OKEx resulted in significant losses for some investors, including Qiao Changhe, founder of a firm called Consensus Technologies, who said his fund was down $700,000 because the exchange closed the contracts at a level that did not reflect market prices at the time.

As a result, he suggested he is likely to reduce the $5 million fund’s utilization of the exchange.

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