I knew about this matter at that time, and it was actually very dramatic!

The key point is that in 2018, under an environment of extremely low liquidity and high leverage, the abnormal concentration of positions in a single account had already touched the boundaries of systemic risk.

1️⃣ The market depth that year was extremely thin, with large players leveraging 20x, which itself had already changed the market structure.

2️⃣ After a liquidation, if the market cannot absorb it, a massive gap will form, which needs to be distributed among the profitable parties.

3️⃣ From the perspective of the exchange, this is not just a profit and loss issue for a single account, but it will affect all users holding positions.

4️⃣ If OKX does not intervene in advance, it may trigger platform-level risks and large-scale distribution.

5️⃣ Injecting 2500 BTC into the risk pool prioritized protecting system stability, without completely passing the losses onto the market.

In summary: In a high-leverage market, there is no mature liquidation takeover mechanism; the platform must prioritize system safety over the trading freedom of a single account.

Of course, the market later learned its lesson, and the exchange has evolved well into what it is today.

I don't know why this old matter suddenly started being discussed again,

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