Several reports have recently revealed that a certain breach in security at OKX’s DEX platform has resulted in financial damages that were estimated to be around 2.7 million dollars, as confirmed by Arkham, an on-chain intelligence firm.
Crypto Platform Okx Dex Hit by $2.7 Million Hack, Bounty Offered for Hacker’s Capture
The breach occurred on 13th December, with 2.7 million dollars being extracted from its defi protocol. This incident became public knowledge thanks to multiple on-chain analysis experts. Arkham has since then announced the launch of a bounty for tracking the party accountable.
Arkham wrote on Twitter, “We have created and funded a bounty to help identify the person or organization behind the recent Okx Dex exploit. Okx Dex was exploited by a hacker who upgraded a deprecated contract with token approvals, resulting in losses of over $2.7M on Dec 13, 2023. The hacker is tied to a number of hacks, including Lunafi, Uno Re, RVLT, and more.”
The Web3 Wallet and OKX Dex account on X also spoke about the breach. They said, “We regret to inform you that a deprecated smart contract on Okx Dex has been compromised. We have taken immediate action to secure all user funds and revoke the contract permissions. We are working with relevant agencies to locate the stolen funds and will reimburse affected users with $370k. A thorough review is underway to prevent similar incidents. Our apologies for any inconvenience caused.”
One user commented, “My money lost $750 on your web.”