OKX Halts DEX Aggregator to Thwart Lazarus Group Attacks
1min read OKX, a leading cryptocurrency exchange, has temporarily halted its decentralized exchange (DEX) aggregator service to prevent further misuse by the Lazarus Group, a hacking collective linked to North Korea. This decision was made following the detection of coordinated efforts by the Lazarus Group to exploit OKX's decentralized finance (DeFi) services. The exchange consulted with regulators before taking this proactive measure, which aims to implement additional upgrades to enhance security and prevent future misuse.
The OKX helpdesk confirmed the suspension of the DEX aggregator for an internal review and upgrade, although no specific timeline was provided. While the DEX aggregator is paused, crypto wallet services will remain available to all customers. However, new wallet creation in select markets will be temporarily halted during this period. This move is part of OKX's broader effort to combat financial crime and protect its users from potential threats.
OKX has been under scrutiny following allegations that its DEX aggregator, OKX Web3, and wallet services were involved in laundering funds from the Bybit hack. The exchange has vehemently denied these claims, stating that the allegations are misleading. OKX responded to the hack by freezing associated funds from moving into its centralized exchange (CEX) and developing new hack detection features. The exchange has also deployed a "hacker address detection system" for its DEX aggregator, along with a system to track the hacker's latest addresses and block them on its CEX in real time.
OKX CEO Star Xu emphasized the exchange's commitment to developing industry control standards in collaboration with global partners. He highlighted that OKX Web3 has implemented several control measures, including IP blocking for prohibited markets and real-time blacklist address detection systems. These measures are designed to combat abuse and ensure the integrity of the platform. The exchange clarified that the OKX Web3 DEX aggregator is not a custodian of customer assets and does not have the ability to execute any transactions, as all transactions must be signed and executed by users with their personal private keys.
This proactive stance on security and compliance reflects OKX's dedication to protecting its users and maintaining the integrity of its platform. By suspending the DEX aggregator service, OKX aims to mitigate the risks associated with the Lazarus Group's activities and prevent further misuse. The move also underscores the importance of regulatory compliance in the cryptocurrency industry, as exchanges continue to navigate the complex landscape of digital asset regulation. OKX's actions serve as a reminder of the ongoing challenges faced by the industry in combating financial crime and ensuring the security of digital assets.
