OKX has temporarily suspended its decentralized exchange (DEX) aggregator due to increased security threats and platform attacks.
Security Threats and OKX Measures
OKX cited concerns over insufficient blockchain tagging and the need for enhanced security measures. The company has implemented a hacker address detection system and blocking mechanism for suspicious addresses. OKX identified a coordinated effort by the North Korea-linked Lazarus Group to exploit its DeFi services.
Regulatory Pressure in the EU
In addition to other challenges, OKX is under investigation by EU regulators due to potential non-compliance of its DeFi platform with MiCA regulations. This adds additional pressure as OKX works to strengthen its security infrastructure.
Lazarus Group's Attack on Bybit
In January, crypto exchange Bybit suffered the largest theft in crypto history with a $1.5 billion Ethereum hack attributed to the Lazarus Group. Bybit CEO Ben Zhou recently revealed that around 40,233 ETH ($100 million) from the hack flowed through OKX's Web3 platform, with the stolen funds remaining traceable.
OKX continues to face challenges from both security threats and regulatory pressure, requiring stronger measures to protect its platform.
