OKX Suspends DEX Aggregator Services to Implement Security Upgrades

• OKX suspends DEX aggregator services temporarily to address security issues. 
• It implemented a hacker address detection system for its Web3 DEX aggregator. 

OKX exchange made an elaborative post regarding its proactive measures against security threats. It temporarily suspended its DEX aggregator services to improve its features. In response to the security threats from Bybit hacker Lazarus Group and media platforms, OKX is taking steps towards robust security, along with a hacker detection system. 

As per the recent blog posted on the OKX official website, the crypto exchange paused its DEX aggregator services. This is primarily to address incomplete tagging on blockchain explorers and to implement new security features. 

A complete tagging on blockchain explorers allows them to track and label transactions. However, incomplete tagging raised concerns about whether hackers are misusing the OKX platform. The team said, 

“We detected a coordinated effort by the Lazarus group to misuse our DeFi services. At the same time, we’ve noticed an increase in competitive attacks aiming to undermine our work.”

The suspension of DEX aggregator services is to prevent further misuse of the platform. Furthermore, it recently rolled out a hacker detection system for its DEX aggregator. This will track hackers’ latest addresses and block them in real time. OKX wallet services will be available to users. However, the team paused new wallet creation in select markets during this period. 

European Crypto Regulators Investigated OKX Web3 Service Last Week

According to a Bloomberg report, European crypto regulators probed OKX Web3 services regarding the recent Bybit hack. Apparently, the Bybit hacker Lazarus group used its services to launder $100 million worth of stolen funds in the Bybit hack. Regulators even discussed penalties under the latest MiCA regulations. 

The Bybit hack shook the crypto industry, being one of the largest hacks worth $1.4 billion. Even though the Bybit team has been making active efforts to track hackers’ wallet addresses, they couldn’t recover the stolen funds. Since OKX faced threats and attacks from media and regulators, it took proactive measures to implement a hacker detection system. 

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