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OKX DEX

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[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

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anchored·3UYd5a…mg8k

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.

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    Timeline(9 events)

    12 December 2023

    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.

    12 December 2023

    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.

    23 January 2024

    OKB token suffers a flash crash with a sudden, unexplained price drop, raising market manipulation concerns.

    2024

    Malta MFSA settles with OKCoin Europe for €304,000 fine; OKX agrees to hire independent compliance reviewer.

    24 February 2024

    OKcoin (OKX's U.S. arm) receives a CFTC subpoena related to suspected fraud and unlawful conduct in digital asset transactions.

    2025

    OKX receives a MiCA license from European regulators, allowing compliant operation across EU markets.

    24 February 2025

    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.

    17 March 2025

    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.

    April 2025

    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.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain24 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (3 events). 24 of 29 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:36 AM

    last updated: 8/30/2026, 5:14:08 AM

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