OKX has quickly suspended its decentralized change aggregator after regulators within the European Union (EU) started taking a look at the way it was utilized by North Korea to launder proceeds from a latest hack of crypto change Bybit.
Bloomberg reported on March 11 that the EU regulators have been investigating OKX’s Web3 providers for allegedly laundering funds from the Bybit hack, prompting OKX President Hong Fang and different executives to name Bloomberg’s report deceptive and assert the corporate’s dedication to combating monetary crime.
I am deeply disillusioned that once we attempt to assist our trade get safer, those that we’ve helped despatched mis-leading info as a substitute and tried to create FUD.
No matter what others do or say, we take our dedication to compliance severely. We take our dedication to our… https://t.co/nN9aYlPNO1
— hong (@hfangca) March 11, 2025
We usually do not reply to false claims and misinformation.
Regardless of our greatest efforts to assist Bybit actively by directing assets in the direction of them, they seem like citing misinformation on X and with journalists.
We spoke to Bloomberg at this time and offered our assertion… https://t.co/VJyK9WhKSP
— Haider (@Haider) March 11, 2025
“We’re addressing a tagging problem with explorers that highlights OKX DEX aggregator because the vacation spot of trades when in truth, OKX DEX aggregator simply appears for the perfect value to execute the order, after which the ultimate order/commerce is positioned on one of many DEXs our aggregator connects to,” a spokesperson for OKX instructed CoinDesk in a Telegram message.
The spokesperson mentioned that after consulting regulators, they proactively paused our DEX aggregator to implement new tagging and safety upgrades.
“This choice ensures the transparency of how our software program and techniques work, together with the security of our platform and customers,” they continued.