OKX, a digital-asset exchange, has temporarily suspended its DEX aggregator service on its Web3 platform following concerns over its use by hackers to launder $100 million from a $1.5 billion heist on the trading platform Bybit. The suspension comes after the platform drew scrutiny from European watchdogs under the EU's Markets in Crypto-Assets (MiCA) regulation. The decision to pause the DEX aggregator was made after OKX detected a coordinated attempt by the North Korean Lazarus Group to misuse its DeFi services. This group is known for its sophisticated cybercrimes, including the Bybit hack. OKX has implemented measures to identify and prevent the use of suspicious addresses, aiming to enhance security and prevent further misuse. While the DEX aggregator is paused, OKX's wallet services remain operational, although new wallet creation is temporarily restricted in select regions. The platform is working on security upgrades, including a hacker address detection system and real-time blocking of suspicious addresses on its centralized exchange (CEX).
[TELEGRAM] ZachXBT: Alleged North Korean Laundering Accounts for Nearly 100% of Volume on Some “Decentralized” Protocols While Slow Responses From Centralized Exchanges Enable Rapid Fund Laundering https://t.co/74ps4vq4fg
DPRK-linked hackers laundered $1.4B in stolen crypto, exposing major security flaws 🏴☠️💸 ZachXBT warns the industry isn’t fixing itself and may face harsh regulations. - Some 'decentralized' platforms rely heavily on illicit funds - Centralized exchanges are often too slow…
Cointelegraph: "OKX suspends DEX aggregator to stop ‘further misuse’ by Lazarus" https://t.co/Cb7CrlVayI