For more than 5 years, my BeFund team has been developing for blockchain and WEB3, and we are constantly dealing with data security. During this time, we always come back to the same thought: "Someone comes up with a better cat, but someone else always comes up with a better mouse." So I'm not surprised at all.
It`s known about the theft of more than $11M from various accounts of customers of the crypto exchange. According to one of the most common versions, this became possible due to the forgery of documents with the subsequent hacking of accounts and obtaining new API keys. The incident caused panic and mass distrust among users, who withdrew more than $630 million of their own funds from OKX. This put the exchange in a difficult, if not catastrophic, position.
The position of OKX remains unclear: on the one hand, they confirmed the fact of hacking and theft, on the other hand, they avoid publicizing the real reasons for the incident. The crypto exchange refutes rumors about the unreliability of verification tools, including Google Authenticator and SMS verification. Meanwhile, many experts believe that everything happened precisely because the attackers intercepted a short message for the user.
Could hackers forge documents and fool the facial recognition system with the help of Artificial Intelligence? Well, we live in a very interesting time, when neural networks are already capable of creating miracles that are not known to the general public.
Information is now spreading about the problems found on the eve of the theft in the security system of OKX accounts, to which the crypto exchange did not react in time. However, my point is quite simple: any exchange only offers custodial crypto wallets, which already increases the risks of losing your digital assets. Some provide better protection, some worse, but since you do not personally control the private keys, you can never be sure that they will not fall into the hands of criminals. The only advice I can give in this situation is never put all your eggs in one basket. https://www.befund.finance/