OKX has temporarily suspended its web3 Decentralized Exchange (DEX) aggregator after discussions with European regulators.
The exchange announced This decision on March 17, which states that the move is part of efforts to improve security measures and prevent abuse of its platform.
Bybit Hack Connection
The suspension comes when the European authorities investigate accusations that hackers linked to the Lazarus Group of Noord -Korea OKX Web3 to launder funds stolen in the recent Bybit -Hack.
A recent Bloomberg Report proposed supervisors of all 27 countries of the European Union discussed this issue during a European Eigen and Markets Authority (ESMA) meeting on 6 March.
Bybit CEO Ben Zhou confirmed that the Hackers OKX Web3 used to launder around $ 100 million of the stolen $ 1.5 billion.
In response, EU supervisors now assess whether the platform falls under the jurisdiction of the markets in the regulatory framework of crypto-assets (MICA) and explore possible fines for OKX.
OKX’s answer
OKX claims that its involvement in the white processing was due to incorrect labeling by blockchain discovery travelers and other decentralized fairs.
The stock market stated that it is actively working with these explorers to guarantee an accurate transaction report and to prevent incorrect identification of his aggregator as the point of trade.
It explained:
“We know that transparency is crucial, so we also work closely with Blockchain Extplorers to correct incomplete labeling. Our goal is to ensure that explorers emphasize the actual DEX processing trade properly instead of wrongly identifying our aggregator as the point of trade. “
The platform also repeated that his aggregator does not provide user assets for custody, but only offers access to liquidity in several decentralized protocols.
To further strengthen security, the platform has introduced a system designed to detect and block hacker addresses in real time to gain access to the centralized exchange.
OKX CEO -star XU said on X:
“We have already rolled out many controls for OKX Web3 to fight with the abuse, including the IP block of forbidden markets and real-time black address detection and blocking system.”
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