OKX Halts DEX Aggregator as EU Regulators Investigate Alleged Links to Bybit Hack
Cryptocurrency exchange OKX has temporarily suspended its decentralized exchange (DEX) aggregator, following reports that European Union (EU) regulators are investigating its alleged involvement in laundering funds connected to the Bybit hack.
EU Scrutiny Over OKX’s Web3 Services
A March 11 Bloomberg report revealed that EU authorities are examining OKX’s Web3 platform, suspecting that North Korean hackers may have exploited it to move illicit funds. The claims prompted OKX President Hong Fang and other executives to push back, calling the report misleading and reaffirming the company’s strict stance against financial crime.
OKX Explains Suspension and Transaction Tagging Issues
In a statement to CoinDesk, an OKX spokesperson clarified that the platform itself was not responsible for laundering funds but was addressing mislabeling issues in blockchain explorers.
“Some explorers incorrectly tag OKX’s DEX aggregator as the final destination of transactions, but in reality, our aggregator simply finds the best price and routes trades through external decentralized exchanges,” the spokesperson said via Telegram.
Strengthening Security and Compliance
To address these concerns, OKX proactively paused its DEX aggregator to implement new tagging and security improvements in coordination with regulators.
“This decision enhances transparency in how our systems function while ensuring the safety of our users and platform,” the spokesperson added.
With regulators worldwide tightening oversight on crypto exchanges, OKX’s move signals a broader industry push toward greater transparency, compliance, and anti-money laundering (AML) protections.
