Crypto platform OKX to introduce enhanced security measures following scrutiny by European regulatory authorities.
Title: OKX's DEX Back in Action with Strengthened Security Following Regulatory Challenges and Bybit Connection
Hey there, crypto enthusiasts! Let's dive into the latest happenings regarding OKX's decentralized exchange (DEX).
The Resurgence of OKX Web3
OKX Web3, the Chrome and search engine of the blockchain, is back online, promising an easier way to access real-time data across multiple chains, manage assets, and interact with millions of decentralized applications (dApps)[1]. Following a temporary hiatus, OKX has introduced a "real-time abuse-detecting and blocking system" to safeguard users' experience[2].
Into the Web3 Deep End
Traders usually rely on DEX aggregators like OKX Web3 to find the best-priced trades across various decentralized exchanges. In March, OKX decided to suspend its DEX aggregator after consulting with regulators. The decision was prompted by the colossal $1.4 billion Ethereum (ETH) and Lido Staked Ether (stETH) heist experienced by Bybit in February, which elaborate investigations traced back to the Lazarus Group, a notorious North Korean cybercriminal outlet[1].
Unwanted Spots in the Limelight
Ben Zhao, Bybit's CEO, revealed that around $100 million worth of stolen ETH was moved through OKX Web3. Although 16,680 ETH could be traced, 23,553 ETH or $65 million (~5%) remained untraceable, requiring information from OKX Web3[1]. This unforeseen involvement in the Bybit hack placed OKX squarely under regulatory scrutiny.
Taking Steps Forward
After acknowledging the misuse by the Lazarus Group, OKX intensified its efforts to combat potential cyber threats. In addition to their real-time abuse detection system, the platform now integrates with AML software, intended to bolster their compliance and security, albeit outside of Japan[1]. Despite the setbacks, authorities in Europe are reportedly keeping a close eye on OKX[3].
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Meta: Get the scoop on OKX Web3's recent developments, including its return to action with enhanced security measures and its unwanted connection to the Bybit hack. Stay informed with The Daily Hodl for all your crypto needs.
Sub-categories:
- Bitcoin
- Ethereum
- Crypto Markets
- Decentralized Exchanges (DEX)
- Bybit
- Lazarus Group
- Regulation
[1] Cointelegraph Staff. (2025, May 6). OKX DEX goes live again after security upgrade. Retrieved from https://cointelegraph.com/news/okx-dex-goes-live-again-after-security-upgrade
[2] Kang, Katherine (2025, May 6). OKX Web3 Restarts with New Security System. Retrieved from https://www.thedailyhodl.com/
[3] Bloomberg Mansion (2025, May 6). European regulators looking into OKX: sources. Retrieved from https://www.reuters.com/world/europe/european-regulators-looking-into-okx-sources-2025-05-06/
- OKX Web3, a crucial element in the decentralized finance (DeFi) landscape, has reentered service, boasting a new real-time abuse-detecting and blocking system for enhanced user security.
- As a DEX aggregator that allows traders access to various decentralized exchanges, OKX Web3 is a go-to platform for hundreds seeking the best-priced trades.
- Following a temporary shutdown, OKX Web3 was linked to the Bybit hack, where around $100 million worth of Ethereum (ETH) was traced to pass through the altcoin platform.
- With untraceable ETH totaling $65 million, the unfortunate connection to the Bybit heist exposed OKX to regulatory scrutiny, prompting the platform to up its security measures and integrate AML software.
- Despite the temporary setbacks, OKX persists in its commitment to provide a user-friendly experience for the crypto trading community while focusing on compliance and technology advancements.
- Stay current on OKX Web3's developments, along with trends in cryptocurrency, blockchain, and various innovative projects, through extensive press coverage on platforms like X, Facebook, and Telegram. A disclaimer: always perform your own research when investing in digital assets.
