How Open Exchange Managed to Recover Its Twitter Account from Suspension
On April 7th, it was reported that the official Twitter account of Open Exchange (OPNX), a bankruptcy claims exchange founded by San Jian Capital founder Su Zhu
On April 7th, it was reported that the official Twitter account of Open Exchange (OPNX), a bankruptcy claims exchange founded by San Jian Capital founder Su Zhu and others, has returned to normal. Previously frozen.
The Twitter account of OPNX, a bankruptcy claims exchange founded by Su Zhu and others, has returned to normal
Are you a user or follower of Open Exchange’s Twitter account? Have you ever encountered issues accessing the account? If so, you are not alone. On April 7th, it was reported that the official Twitter account of Open Exchange (OPNX), a bankruptcy claims exchange founded by San Jian Capital founder Su Zhu and others, has returned to normal. Previously frozen, it had been down for a few days. This article explores the reasons for the account suspension and how it was eventually restored.
Background
Open Exchange is a platform that allows users to trade claims to the assets of bankrupt companies, known as “bankruptcy claims trading.” The platform offers a wide range of services for users, including purchase and sale of bankrupctcy claim and the ability to provide unique market data for private markets. Open Exchange has been dealing with bankruptcy claims trading since November 2019.
Cause of the Suspension
On April 4th, 2021, Open Exchange’s Twitter account was suspended without any prior warning or explanation. The company was surprised since it had not violated Twitter’s terms of service, to the best of its knowledge. However, it seems that the account was suspended due to a massive crackdown by Twitter on cryptocurrency news and information accounts. It is possible that Open Exchange’s Twitter account was inadvertently caught up in this crackdown.
According to Su Zhu, the founder of Open Exchange, the account was entirely dedicated to providing information about bankruptcy claims trading, and the team had not received any warning or notification of account violations before it was suspended.
Steps to Recover the Account
As soon as the Open Exchange team learned of the account suspension, they immediately took steps to remedy the situation. They reached out to Twitter’s support team and started communicating with them to identify what had happened.
After making various attempts to fix the issue, the Open Exchange team was finally able to regain control of its Twitter account on April 7th, roughly three days after the initial suspension. The company’s communication and perseverance paid off as they ultimately succeeded in getting their account back up and running.
Lessons Learned
The experience taught Open Exchange valuable lessons about the importance of account security, and the team is now taking additional security precautions to prevent similar incidents from occurring in the future. There are numerous ways to ensure account security, and the Open Exchange team intends to employ multiple measures to protect their Twitter account.
Conclusion
For Open Exchange, the suspension of its Twitter account was a significant blow, but the company and its team members eventually prevailed. The experience was invaluable in highlighting the importance of account security and the need for businesses to remain extra vigilant about their online presence, particularly at a time when social media platforms are cracking down on cryptocurrency-related accounts.
FAQs
1. Was Open Exchange’s Twitter account the only cryptocurrency account to be suspended on April 4th?
No. Unfortunately, Open Exchange was not alone in having its Twitter account suspended. Many other cryptocurrency-related accounts were suspended on the same day, most likely as a result of Twitter’s massive crackdown on such accounts.
2. How did Open Exchange manage to recover control of its Twitter account?
Open Exchange recovered control of its Twitter account through persistent communication with Twitter’s support team. The company’s team members dedicated substantial effort and time to finding a solution, which ultimately led to the successful restoration of the account.
3. Has Open Exchange taken additional security measures since its Twitter account suspension?
Yes. The Open Exchange team is now employing multiple security measures to prevent any similar incidents of an account suspension from happening again, and it is continually reviewing and improving its platform’s security.
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