OKX has temporarily suspended its decentralized exchange aggregator after the regulators of the European Union (EU) began to observe how it was used by North Korea to wash the income of a recent Bybit exchange crypto hack.
Bloomberg reported on March 11 that EU regulators were investigating OKX web3 services for allegedly washing Bybit trick funds, which caused OKX president, Hong Fang, and other executives calling the Bloomberg report, deceive and affirm the company’s commitment to combat financial crime.
I am deeply disappointed that when we try to help our industry to be safer, those whom we have helped to send insecure information in their place and tried to create FUD.
Regardless of what others do or say, we take our commitment to compliance seriously. We take our commitment to our … https://t.co/nn9aylpno1
– Hong (@hfangca) March 11, 2025
In general, we do not respond to false claims and erroneous information.
Despite our best efforts to help Bybit actively directing resources towards them, they seem to be citing erroneous information in X and with journalists.
We talked today with Bloomberg and provided our statement … https://t.co/vjyk9whksp
– Haider (@haider) March 11, 2025
“We are addressing a labeling problem with the explorers that highlights the OKX Dex aggregator such as the destination of the operations when, in fact, OKX Dex Aggregator only looks for the best price to execute the order, and then the final order/commerce is placed in one of the dexs that our aggregator connects,” said an OKX tank deposit to Coinsek in a Telegram message.
The spokesman said that after consulting the regulators, they proactively arrested our aggregator Dex to implement new labeling and safety updates.
“This decision guarantees the transparency of how our software and systems work, together with the security of our platform and users,” they continued.
