OKX Halts DEX Aggregator Service as It Focuses on Strengthening Security

OKX Temporarily Disables DEX Aggregator Amid EU Investigation Into Bybit Hack

Cryptocurrency exchange OKX has suspended its decentralized exchange (DEX) aggregator, citing the need for security upgrades after European Union (EU) regulators launched an investigation into its alleged connection to laundering funds from the recent Bybit hack.

EU Regulators Probe OKX’s Web3 Services

On March 11, Bloomberg reported that EU authorities were examining OKX’s Web3 platform, suspecting that North Korean-linked hackers may have used it to move stolen funds. The report prompted OKX President Hong Fang and other executives to challenge the claims, calling them misleading and reaffirming the company’s strong commitment to financial security and compliance.

OKX Responds to Allegations

An OKX spokesperson clarified in a statement to CoinDesk that the suspension was not due to direct wrongdoing but rather a mislabeling issue in blockchain explorers.

“Our DEX aggregator is being inaccurately flagged as the final recipient of transactions. In reality, it functions as a price-matching tool, executing trades on third-party decentralized exchanges,” the spokesperson explained via Telegram.

Enhancing Security and Transparency

After consulting with regulators, OKX proactively suspended its DEX aggregator to implement enhanced security measures and tagging adjustments to prevent further confusion.

“This step reinforces our dedication to transparency, ensuring our systems are clearly understood while keeping our users and platform secure,” the spokesperson added.

As crypto exchanges face increasing regulatory scrutiny worldwide, OKX’s decision highlights the growing industry focus on compliance, anti-money laundering (AML) measures, and transaction oversight.