The reported OKX crypto Theft is under investigation, and the affected users have been contacted. The exchange has pledged to take accountability.
The number of crypto larceny incidents has increased as hackers have utilized innovative methods to siphon off user funds. A significant theft was reported by users of the crypto exchange OKX in the most recent development. This was achieved through a violation of the platform’s SMS notification security.
Compromised OKX Exchange Accounts
The OKX exchange accounts of two distinct victims were stolen using curiously similar methods and features, according to SlowMist, on Sunday morning. The two incidents, as per SlowMist, involved the establishment of new API keys with withdrawal and trading permissions and SMS risk notifications that originated from “Hong Kong.” This theory was initially suspected to be a cross-trading attempt but has since been disproven. A similar robbery occurred last week when a Binance user lost over $1 million in crypto due to a cross-trading plugin.
A premeditated gang executed the assaults in a focused manner. MistTrack, SlowMist’s tracking team, is currently monitoring the hacker wallet addresses associated with both incidents and will continue to provide updates. Nevertheless, the victims’ consent will be required before any specific details of the incidents are disclosed.
It is important to note that the victims did not enable 2FA authentication tools such as Google Authenticator, although it is uncertain whether this was the primary factor in the breaches. SlowMist advises against panicking, positing that a more significant impact would likely lead to more exaggerated related events.
The Crypto Exchange Assumed Accountability
OKX, a prominent cryptocurrency exchange, has responded to allegations of stolen user assets circulating online today. The exchange has contacted the affected users and is actively investigating the incidents.
OKX underscored its dedication to resolving the matter in a statement. The exchange also said it will assume full responsibility for any losses incurred if the platform is proven to be at fault. The exchange has pledged to disclose the investigation’s findings as soon as they are accessible and has encouraged users to exercise patience and refrain from unwarranted speculation.
Throughout the Binance attack, the crypto hacker implemented a sophisticated approach to manipulate his account and avoid detection. Using his web cookies as a hostage, the hacker executed substantial transactions in the USDT trading pair, which is highly liquid. In addition, the hacker executed limit sell orders at exorbitant prices in pairings with deficient liquidity. Through this approach, the intruder could generate substantial profits without eliciting any security alerts from Binance.
