OKX DEX resumes with real-time abuse detection after $100M laundering scandal
The post OKX DEX resumes with real-time abuse detection after $100M laundering scandal appeared on BitcoinEthereumNews.com.
OKX has officially resumed its decentralized exchange (DEX) operations with a new real-time abuse detection and blocking system designed to combat illicit activity. In an X post, the CEO of OKX Star Xu, also known as Mingxing Xu, said: “OKX DEX will restart today with a real-time abuse detecting and blocking system.” He went on to describe OKX Web3 as “the Chrome and search engine of the blockchain,” emphasizing that their deep understanding of on-chain data enables users to access real-time information across hundreds of blockchains, manage assets across multiple networks, and interact with millions of decentralized applications (dApps). OKX DEX reboots after Lazarus Group scandal The relaunch follows months of heightened scrutiny after the platform was linked to a $100 million laundering operation allegedly tied to North Korea’s Lazarus Group. Now, the OKX DEX has real-time tools for identifying and blocking suspicious activity. The abuse detection system actively monitors on-chain behaviors across hundreds of supported blockchains, offering dynamic protection against laundering attempts and malicious smart contracts. OKX’s DEX facilitated one of the biggest money laundering cases in crypto history in March 2025. Hackers associated with the North Korean Lazarus Group used the DEX to launder about $100 million worth of ether. It was one of a spate of $1.5 billion thefts intended to target Bybit, a rival crypto exchange. Roughly 8% of the lifted crypto was transferred on OKX’s decentralized exchange, said Bybit’s chief executive officer Ben Zhou. The laundering process was played out using OKX’s Web3 proxy contracts, which can do transactions with blockchain services anonymously. As regulators around Europe began to investigate, the exchange halted its DEX services overnight on March 18, 2025. It then teamed with compliance professionals to comb through its vulnerabilities and update its systems. Now, the company claims its upgraded DEX aggregator has…
Filed under: News - @ May 5, 2025 5:23 am