Security Breaches Lead to OKX Halting DEX Services
Crypto exchange OKX has temporarily paused its decentralized exchange (DEX) aggregator due to security concerns and recent cyberattacks. The decision follows a coordinated attack by North Korea’s Lazarus Group, which has been linked to the Bybit hack.
Regulatory Scrutiny Intensifies
OKX has also come under regulatory scrutiny, with:
Key Highlights:
- The European Union investigating its Web3 services for potential MiCA violations
- Reports of OKX facilitating laundering of funds from Bybit’s $1.4 billion hack
In January, Bybit suffered a record-breaking hack, with $100 million in stolen funds reportedly moving through OKX.
OKX Implements New Security Features
To counter threats, OKX has introduced:
Key Highlights:
- A hacker address detection system
- Mechanisms to block suspicious wallets
- Increased cooperation with regulators
Despite denying allegations of regulatory non-compliance, OKX faces increasing scrutiny over its handling of illicit transactions.
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