EddieJayonCrypto
6 May 25
OKX is relaunching its decentralized exchange (DEX) aggregator with a new real-time abuse-detecting and blocking security system after regulatory scrutiny following the Bybit hack. The restart aims to provide users with access to real-time on-chain data, multi-chain asset management, and millions of...
OKX is relaunching its decentralized exchange (DEX) aggregator, this time with an enhanced real-time abuse-detecting and blocking security system. This move comes after regulatory scrutiny following the massive Bybit hack linked to the notorious Lazarus Group, a North Korean cybercriminal organization.
The Bybit hack saw $1.4 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) stolen, with some of the stolen assets traced as moving through OKX’s Web3 proxy. This prompted investigations by European Union regulators, as OKX acknowledged attempts by the Lazarus Group to exploit its DeFi services. In response, OKX had suspended its DEX aggregator in March to consult with regulators and improve its security measures.
OKX chief executive Star Xu announced the relaunch on social media platform X, highlighting the new system designed to detect and block abuse in real time. The upgraded platform aims to offer users seamless access to real-time on-chain data, multi-chain asset management, and millions of decentralized applications (DApps). Traders rely on DEX aggregators like OKX to find optimal trade prices by comparing data across various decentralized exchanges.
This relaunch represents OKX’s effort to restore trust and solidify its position in the DeFi ecosystem by strengthening its defenses against cyber threats linked to sophisticated hacking groups.