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17/03/25
53
OKX Suspends DEX Aggregator Amid North Korean Hacking Threats
The cryptocurrency exchange OKX has announced a temporary suspension of its decentralized exchange (DEX) aggregator in response to the activities of the Lazarus Group, a North Korean hacking organization. The decision, made on March 17, follows the detection of a coordinated effort by the group to exploit the platform’s decentralized finance services. To address potential vulnerabilities, the exchange has opted to halt its DEX operations while it enhances security measures.
OKX’s helpdesk confirmed that the DEX aggregator will undergo an internal review and upgrades, although no specific timeline for resuming services has been provided. Customers will still have access to existing crypto wallet services, but the creation of new wallets will be restricted in certain markets during this period.
The temporary suspension comes amidst scrutiny from European Union regulators investigating the DEX aggregator, termed OKX Web3, and its wallet services. Reports suggest that these services may have been involved in facilitating the laundering of funds following the recent Bybit hack, where nearly $100 million may have been funneled through OKX’s platform, according to Bybit’s CEO. In light of these concerns, OKX has defended its integrity, emphasizing its commitment to combating financial crime and stressing that it acted promptly by freezing suspicious funds following the hack.
To enhance its security framework, OKX has implemented a hacker address detection system that can identify and block suspicious activities related to the DEX aggregator in real-time. The company also stated that it does not act as a custodian for customer assets, reaffirming its primary function as a facilitator for liquidity across various protocols.
In conclusion, the exchange is taking proactive steps not only to fortify its defenses against cyber threats but also to clarify any misconceptions about its operations amid ongoing regulatory and media scrutiny.
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