Summary: OKX’s Web3 platform has faced allegations of facilitating money laundering for North Korean hacking groups, allegedly allowing up to 0 million to be laundered through their decentralized exchange aggregator. In response, OKX has temporarily suspended its operations for upgrades and is working with blockchain explorers to improve transaction labeling accuracy, aiming to shift potential blame to third-party DEX platforms. However, questions about their accountability remain as they bolster security measures to monitor illicit activities within their ecosystem.
Affected: OKX Web3 platform and integrated DEX exchanges
Keypoints :
- OKX’s Web3 platform allegedly linked to laundering 0 million from a Bybit exchange hack.
- Company has denied allegations and announced a temporary suspension of its DEX aggregator for upgrades.
- OKX aims for transparency and has put systems in place for monitoring illicit transactions, but accountability concerns linger.
Source: https://securityonline.info/web3-laundering-fears-okx-suspends-platform-amidst-scrutiny/