OKX Freezes DEX Service to Block Lazarus Group’s Misuse

Crypto News Exchanges

Written by Aaron S.,

Editor-In-Chief

Last Updated: March 17, 2025

Key Takeaways

OKX suspended its DEX aggregator to prevent further misuse by the Lazarus Group;
Wallet services remain available, but new wallet creation is restricted in some regions;
OKX denied wrongdoing in the Bybit hack investigation, calling media reports misleading.

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OKX Freezes DEX Service to Block Lazarus Group’s Misuse

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OKX $2.08B has taken down its decentralized exchange (DEX) aggregator, citing security concerns linked to the North Korean hacking group Lazarus.

The exchange announced on March 17 that this temporary suspension would help prevent further misuse and allow time for necessary upgrades. The decision was made after consulting with regulators, though OKX did not specify when the service would resume.

While the aggregator is under review, OKX clarified that existing users can still access wallet services. However, new wallet creation has been restricted in certain regions for the time being. The company’s support team described the decision as an "internal review and upgrade".

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CEO Star Xu noted that the company has already implemented real-time address tracking, IP restrictions for restricted regions, and other security controls to prevent abuse.

OKX also clarified that its DEX aggregator does not store customer assets, as its primary function is to facilitate access to liquidity across multiple trading platforms.

On March 11, Bloomberg reported that European financial authorities were looking into the platform’s possible connection to the Bybit $2.66B security breach, where hackers stole $1.5 billion.

In response, OKX dismissed allegations of wrongdoing, calling Bloomberg’s reporting "misleading". The company emphasized that when the Bybit hack occurred, it acted quickly by freezing any linked funds before they could enter its centralized exchange (CEX).

It also stated that new security measures were introduced to enhance its ability to detect and block similar threats in the future.

On March 6, Garantex, a Russia-based crypto exchange, halted all services and put its website under maintenance. What happened? Read the full story.