Exchange on cryptocurrencies OKX has momentarily stopped its distributed exchange (DEX) aggregator following an effort by the North Korean hacking organization Lazarus to breach its platform. Made in line with authorities, the action seeks to improve security protocols and stop more exploitation.
OKX stressed in an official statement its proactive strategy to fight financial crime. “We just found the Lazarus group working in concert to abuse our DeFi offerings. Following talks with authorities, we have decided to momentarily cease our DEX aggregator service. This stage lets us apply required improvements to fortify our defenses,” the business said.
OKX stated that its crypto wallet services are still functional even as the aggregator stays unavailable for internal evaluation and enhancements. To further safety, the company has temporarily stopped creating wallets in particular areas as well.
This action follows claims that the Lazarus group tried to wash $100 million from the recent $1.5 billion Bybit attack via OKX’s Web3 platform. Declaring that it had acted immediately by blocking linked cash and improving its security systems, the exchange has vigorously denied allegations that it encouraged illegal activity.
OKX has developed a system for detecting hacker addresses to spot and stop dubious activities in real-time in order to help to further stop exploitation. The platform is also working with blockchain explorers to guarantee precise transaction labeling, therefore avoiding the misidentification of its aggregator as the source of illegal activity.
“We have already put in place a real-time system to identify and block hostile addresses and block forbidden market IPs,” stated OKX CEO Star Xu. “We want to maintain openness and safeguard our users while bad actors are kept off from using the system..
OKX underlined that its DEX aggregator only provides access to liquidity across several platforms; it does not store client assets. The corporation feels that recent media coverage has distorted its position, therefore undermining its initiatives against financial crime.
“In this business, trust is really vital. We are still dedicated to enhancing security, guaranteeing regulatory compliance, and supporting openness,” OKX said. “We will keep innovating and protect our users despite outside obstacles.”
OKX promises its community that it will uphold strict security standards and notify users of any changes to the DEX aggregator’s restoration as cyber risks change.
