Crypto trade OKX has quickly paused its decentralized trade aggregator to stop “additional misuse” by North Korean hacking collective Lazarus Group.
“Lately, we detected a coordinated effort by Lazarus group to misuse our defi companies,” said OKX on March 17.
“After consulting with regulators, we made the proactive determination to quickly droop our DEX aggregator companies. This transfer permits us to implement further upgrades to stop additional misuse.”
The OKX helpdesk confirmed that the DEX aggregator was quickly suspended for an “inner assessment and improve” however didn’t present a timeline.
It added that crypto pockets companies will stay accessible to all prospects, however it would “pause new pockets creation in choose markets throughout this time.”
Supply: OKX
On March 11, Bloomberg reported that European Union monetary watchdogs have been investigating the agency’s DEX aggregator, referred to as OKX Web3, and its pockets companies for his or her alleged function in laundering funds from the Bybit hack.
“Over the previous few days, we’ve confronted focused media assaults questioning our integrity and operations,” the agency stated in a weblog submit. It added that it “can’t ignore the truth that these assaults are taking place at a time once we are actively preventing towards monetary crime.”
According to Bybit CEO Ben Zhou, almost $100 million from the $1.5 billion Bybit hack had been laundered by means of OKX’s Web3 proxy, with a portion of the funds now untraceable.
OKX responded on March 11, stating that the “Bloomberg article is deceptive,” saying that when Bybit bought hacked, OKX reacted in two methods: by freezing related funds from shifting into its CEX, and growing the brand new hack detection options.
Associated: Lazarus Group sends 400 ETH to Tornado Cash, deploys new malware
OKX said that the aim is to be sure that explorers correctly spotlight the precise DEX processing trades “fairly than mistakenly figuring out our aggregator as the purpose of commerce.”
The trade has already deployed a “hacker handle detection system” for its DEX aggregator as well as to a system to observe the hacker’s newest addresses and block them on its centralized trade in actual time.
“We already rolled out loads of controls for OKX Web3 to combat with the misuse, together with prohibited markets’ IP blocking and real-time black handle detection and blocking system,” said OKX CEO Star Xu on March 17.
The agency additionally clarified that the OKX Web3 DEX aggregator just isn’t a custodian of buyer belongings, including that its operate is to present entry to liquidity throughout a number of protocols. Nevertheless, “some have intentionally misrepresented our platform,” it mentioned.
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Cointelegraph by Martin Younger OKX suspends DEX aggregator to stop ‘additional misuse’ by Lazarus cointelegraph.com 2025-03-17 05:09:36
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