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Exchanges also need to fight against "witches"? OKX Jumpstart restricts "sheep party" users, warning that those who use KYC with family and friends may face risk control.

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Exchanges also need to fight against "witches"? OKX Jumpstart restricts "sheep party" users, warning that those who use KYC with family and friends may face risk control.

Table of Contents

Table of Contents

What Do "Farming" and "Farmers" Mean in the Crypto Space?

In Chinese internet slang, "farming" originally refers to "using small collective benefits to satisfy one's own desires." After becoming a popular catchphrase, in the crypto space, it broadly refers to attempts to obtain airdrops or other forms of free benefits. Those who engage in "farming" are also known as "farmers," who may create multiple accounts to participate in activities on Web3 platforms to multiply their free benefits.

These behaviors initially had a symbiotic relationship with popular DeFi protocols or emerging public chains. However, due to tightening market conditions, many startups are choosing to strictly exclude "farmers" from benefits, hoping to reserve them for genuine users. They may even use the term "witch attack" to describe users who create multiple addresses to claim airdrops and implement "anti-witch" policies to restrict them.

While these situations mostly occur in decentralized settings, the OKX Jumpstart new coin issuance on centralized platforms also restricts "farmers," and there have even been instances of "half restrictions."

OKX Jumpstart Users: I'm Restricted Too, but I Can't Figure It Out

Several interviewed OKX users recently reported that they were not allowed to participate in a specific OKX Jumpstart offering involving BTC and ETH, although some claimed they were unaffected.

Upon further investigation, accounts that were "unable to participate in activities" had engaged in KYC using friends and family, creating more accounts to participate in Jumpstart activities. Despite having legitimate accounts with normal trading activities and fund transfers, they were still restricted from participating.

Interestingly, some interviewees mentioned that when creating KYC with friends and family, they used different devices and transferred funds using external wallets, not internal OKX transfers, yet they were still classified as high-risk accounts.

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Even more bizarrely, some users stated that among the two eligible assets for Jumpstart participation, they were restricted from one of the assets, resulting in a "half-restriction" phenomenon.

Furthermore, interviewees mentioned that OKX Jumpstart has been enforcing account abuse prevention policies for a long time, and there was a group of users in Taiwan who professionally operated KYC farm accounts that have already been banned.

Possible Reasons for Being Unable to Participate in OKX Jumpstart?

The terms of OKX Jumpstart state:

  • This project is limited to eligible participants as determined by OKX.
  • OKX reserves the right to cancel or suspend any participant's account and confiscate all rewards if they are found to engage in any dishonest or abusive behaviors, including but not limited to click farming, registering multiple accounts, using someone else's account, using someone else's KYC information to register an account, providing false KYC information, using device farms or other malicious tools for abuse, dishonest or fraudulent purposes, engaging in money laundering transactions or false transactions, violating any applicable OKX rules or policies, rules or terms and conditions of any activity or project, or announcements that may be revised at any time, violating local regulatory rules, or participating in activities with the intention or result of abuse, disruption, or weakening the legitimate operation of the project, as determined by OKX.

It appears that OKX can prohibit specific users from participating in OKX Jumpstart based on the terms, although it does not explain the occurrence of "half restrictions." When asked about this, OKX only provided relevant policy explanations.

Fairness or Popularity?

Preventing farming is undoubtedly about maintaining fairness for all participants, but it is possible that the majority of participants are employing similar strategies to try to gain higher risk-free rewards. Do activity platforms prioritize popularity or fairness? Interviewees wonder: Is it bad if we bring in more registered users?