OKX has temporarily suspended its decentralized exchange union after regulators of the European Union (EU) began to look at how it was used by North Korea for money laundering proceeds from a recent hack of Crypto Exchange Bybit.
On March 11, Bloomberg reported that the EU regulators examined OKX’s web3 services for allegedly laundering of funding from BYBIT hacket, prompting OKX president Hong Fang and other leaders to call Bloomberg’s report misleading and claiming the company’s commitment to fight financial crime.
I am deeply disappointed that when we try to help our industry become more secure, those who we have helped send miserable information instead and tried to create FUD.
Whatever others do or say, we take our commitment to comply with seriously. We take our commitment to our … https://t.co/nn9aylpno1
– Hong (@hfangca) March 11, 2025
We typically do not respond to false claims and incorrect information.
Despite our best efforts to help BYBT actively by directing resources against them, they seem to quote incorrect information about X and with journalists.
We talked to Bloomberg today and delivered our statement … https://t.co/vjyk9whksp
– Haider (@haider) March 11, 2025
“We address a tagging problem with explorers who highlight the OKX DEX AGM as a destination for trades when OKX DEX -Agregator is actually just looking at the best price for performing the order, and then the final order/trade is placed on one of DEXS that our aggregator connects to,” a spokesman told Okx Coindesk in a telegram.
The spokesman said that, after consulting regulators, they proactively paused our DEX aggregator to implement new tagging and security upgrades.
“This decision ensures the transparency of how our software and systems work with the security of our platform and users,” they continued.
