Cryptocurrency exchange OKX announced on Monday the suspension of its DEX aggregator service, which had been exploited by hackers to launder some of the funds stolen from the Bybit exchange, reportedly drawing the attention of European regulators.
In a statement, OKX indicated that relevant limit orders and cross-chain orders would be automatically canceled, with the specific resumption time dependent on the progress of upgrades. Additionally, the exchange noted that it has launched a hacker address detection system for Web3 DEX aggregators, as well as a system to track hacker addresses and enable immediate blocking in the CEX system. “These measures reflect our ongoing efforts to stay ahead of malicious actors and protect our customers,” it stated.
According to a report from Bloomberg last week citing informed sources, European cryptocurrency regulators mentioned OKX in a meeting, questioning whether the exchange’s licensing tools violated the EU’s Markets in Crypto-Assets (MiCA) guidelines. Subsequently, OKX denied that it was under investigation by authorities, with CEO Xing stating that the OKX Web3 wallet is a purely self-custodial software that retains certain technical control features and has always cooperated with global regulators.
After OKX announced the suspension of its DEX aggregator service, Xing expressed on the social platform X that multiple control measures have been implemented to combat abuse, emphasizing that user private keys will not be touched or stored, nor will user funds be custodied. OKX will “continue to work with global partners to jointly establish industry control standards” in the future.
