OKX Halts DEX Aggregator Services Amid Scrutiny Over $1.5B Bybit Crypto Heist

Digital asset exchange OKX has suspended its DEX aggregator services following reports that hackers laundered stolen funds from a $1.5 billion heist on the trading platform Bybit. This decision comes amid heightened regulatory scrutiny from European authorities who are closely investigating the incident.

Hackers Exploit OKX’s Web3 Platform

Reports indicate that hackers exploited OKX’s Web3 service to transfer approximately $100 million in stolen funds. Investigators have linked this attack to North Korea’s Lazarus Group, a notorious cybercrime syndicate that targets various crypto platforms.

The breach is significant and raises serious concerns about the security and integrity of decentralized finance (DeFi) services, which many assume was secure yet remain vulnerable to such cyber threats.

Bybit, the victim of the February 2025 attack, is actively working with OKX and other exchanges to track and recover the stolen assets. The firm has urged its users to remain vigilant and implement security measures to protect their accounts during this tumultuous period.

OKX Responds to Scrutiny

In light of the money laundering allegations, European regulators are currently investigating whether OKX’s Web3 platform falls under the Markets in Crypto-Assets (MiCA) framework. Some officials argue that its connection with OKX’s main exchange indicates that stricter regulations should apply.

In response to this mounting pressure, OKX announced a temporary halt to its DEX aggregator services to implement necessary security upgrades. The exchange stated, “This is to address recent coordinated attacks by media along with unsuccessful efforts by Lazarus Group to misuse our DeFi services.” While wallet services will remain operational, new wallet creation will be paused in select markets to further enhance security.

Emphasis was clearly made that the company remains committed to compliance and security. This move is part of their ongoing efforts to prevent illicit activity and ensure the safety of assets.

What’s Next for the Exchange?

The incident raises critical questions regarding the regulation of DeFi services and the overall security of exchanges in the crypto industry. If regulators conclude that OKX’s Web3 wallet must comply with stricter rules, it may set a precedent for other platforms.

For now, OKX continues to review and upgrade its security measures while cooperating with authorities. As the investigation unfolds, it highlights the urgent need for enhanced security measures and appropriate regulatory frameworks in the evolving digital asset landscape.