OKX has taken immediate action, deactivating the affected contracts and ensuring the security of the majority of assets on the platform. Investigation by blockchain security firm SlowMist attributes the breach to a leaked private key for OKX’s proxy admin account. This compromised admin account allowed the attacker to upgrade the DEX’s proxy contract to a malicious version, leading to the direct theft of user funds.
Despite ongoing investigations, another security firm, PeckShieldAlert, reported a $2.76 million loss due to a Private Key Leakage attack on OKX. The exchange is committed to compensating affected users, conducting a thorough security audit, and reorganizing abandoned contracts to prevent future vulnerabilities.
Notably, the decline in crypto heists might be linked to global efforts against North Korean hackers, with the U.S., Japan, and South Korea dismantling major hacker groups, including the notorious Lazarus Group, responsible for over $5 billion in crypto thefts over the past five years.