Massive withdrawal and panic among OKX users 💰
OKX, the third-largest cryptocurrency exchange, has seen substantial capital withdrawals due to recent rumors of security vulnerabilities. DefiLlama reports that users have pulled out around $204 million in the last 24 hours and $633 million over the past week, amounting to a concerning total of $837 million. Meanwhile, #Binance recorded a net inflow of $1.364 billion over the last seven days.
The significant withdrawals commenced subsequent to reports indicating that two users' accounts had been compromised in an alleged SIM swap attack over the weekend. The perpetrators managed to gain access to both accounts, although the precise amount misappropriated has not been disclosed.
Recent wave of hacks and questions about the platform's security! 👨💻
Other hacks and security breaches have also been reported recently, including the use of artificial intelligence and the creation of fake videos! OKx is currently trying to solve the problem and is investigating the circumstances surrounding these events!
OXK is giving utmost priority to the investigation of the misappropriated funds and was diligently working to ascertain the fundamental cause of the security breaches.
Is the OKX safety system faulty?🌐
The platform’s security system appears to be compromised. On June 10th, a group of cryptographic security aficionados, known as Dilation Effect (DE), announced on X that they had identified a vulnerability in OKX’s authentication system, which enabled the perpetrators to gain access to the platform. With no time limit on withdrawals, crypto-currencies can be withdrawn from compromised accounts!
This event raises a lot of questions in the crypto community!👀
-Are other Crypto exchanges in the same situation? Are users and data really secure?
-Will they have to reimburse all losses to users in the event of proven malicious acts? What will the consequences be?
-Can funds be recovered?
-What impact will this major event have on the #crypto markets?
-Will OKX retain its position as 3rd biggest exchange and bounce back?