Summary
OKX DEX is the decentralized exchange aggregator operated by OKX (Aux Cayes FinTech Co. Ltd.), one of the world's largest centralized crypto exchanges. In December 2023, the DEX suffered a ~$2.7 million exploit caused by a suspected private key leak and a centralized proxy upgrade mechanism with no multi-signature protection. The broader OKX entity has faced severe regulatory sanctions including a $504 million U.S. DOJ settlement in February 2025 for operating an unlicensed money-transmitting business and facilitating over $5 billion in suspicious transactions, a €1.1 million Malta AML fine, and repeated scrutiny over its DEX aggregator being used by North Korea's Lazarus Group to launder stolen funds from the $1.5 billion Bybit hack in early 2025.
Connected Entities
1 entitiesTimeline(9 events)
2023-12-12
OKX DEX proxy admin private key allegedly leaked; attacker upgrades DEX Proxy contract to malicious implementation and begins draining user-approved token balances via claimTokens function. Approximately $2.7 million stolen across multiple wallets.
2023-12-12
OKX publicly acknowledges exploit, describes affected contract as an 'abandoned market maker contract,' removes compromised proxy from trusted list, and commits to reimburse all affected users.
2024-01-23
OKB token suffers a flash crash with a sudden, unexplained price drop, raising market manipulation concerns.
2024-01-01
Malta MFSA settles with OKCoin Europe for €304,000 fine; OKX agrees to hire independent compliance reviewer.
2024-02-24
OKcoin (OKX's U.S. arm) receives a CFTC subpoena related to suspected fraud and unlawful conduct in digital asset transactions.
2025-01-01
OKX receives a MiCA license from European regulators, allowing compliant operation across EU markets.
2025-02-24
OKX parent Aux Cayes FinTech Co. Ltd. pleads guilty and settles with U.S. DOJ for $504 million — $420.3 million forfeiture plus $84.4 million fine — for operating an unlicensed money-transmitting business and facilitating $5 billion+ in suspicious transactions. Three-year compliance monitor accepted.
2025-03-17
OKX suspends its DEX aggregator service after detecting Lazarus Group exploitation; Bybit CEO confirms approximately $100 million of the $1.5 billion Bybit hack was laundered through OKX Web3. European regulators (Austria, Croatia) open MiCA jurisdiction inquiry.
2025-04-01
Malta FIAU issues €1.1 million fine to OKCoin Europe for 'serious and systematic' AML breaches found during April 2023 on-site examination, including deficient customer risk assessments and inadequate methodology for high-risk asset categories.
Decision Log
- hash: FRE8b9WXEZBgvtXj6FeP4HpkXAn2xsLJTQeJoPymy6Bi
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:36 AM
last updated: 5/27/2026, 6:12:39 PM
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