Crypto exchange OKX has reinstated its decentralized exchange (DEX) aggregator, OKX Web3, following a security breach in March that was linked to the North Korean state-sponsored group, Lazarus Group. This relaunch ushers in a series of security enhancements aimed at thwarting future unauthorized access by harmful entities. On May 4, OKX founder and CEO Star Xu, in a post on X (formerly known as Twitter), announced the service’s comeback, highlighting the introduction of a real-time system designed to detect and block abusive activities.
### OKX Enhances Web3 Platform for Efficient DEX Trading
Xu characterized OKX Web3 as a comprehensive tool for blockchain, likening it to both a browser and a search engine. This platform compiles data from various decentralized exchanges and liquidity providers, streamlining the trading process for its users. With the recent updates, OKX has expanded its security measures to include a “dynamic database of suspect addresses,” enabling the real-time blocking of known malicious entities and proactive alerts for users about potentially unsafe transactions.
OKX’s commitment to security is reinforced through audits by top-tier blockchain security companies such as CertiK, Hacken, and SlowMist, in addition to rigorous stress testing via an ongoing bug bounty program. New features include an advanced on-chain analysis tool that helps in identifying trading patterns indicative of significant market players or particular trading strategies, adding an extra layer of intelligence aimed at improving the transparency and security of its decentralized platform.
Back on March 17, OKX paused its DEX aggregator service in response to incidents of misuse by the Lazarus Group, promising enhancements to prevent similar issues. This announcement came amidst scrutiny from European Union regulators concerning the aggregator’s potential role in laundering funds from the $1.4 billion Bybit hack in February. OKX has refuted these allegations, emphasizing that its wallet service is non-custodial and purely functions as a swap aggregator.
In a recent development, OKX CEO Star Xu addressed accusations from Tron founder Justin Sun regarding the exchange’s response to a law enforcement request to freeze assets linked to a compromise of Tron’s official X account. Xu refuted these claims, underscoring OKX’s adherence to a consumer protection policy governed by legal standards.
“OKX DEX relaunches today with a cutting-edge system to detect and prevent abuse. OKX Web3 serves as your blockchain gateway, offering real-time data across multiple chains. #Crypto #Blockchain #OKXWeb3”
