Giant Cryptocurrency Exchange Paid Compensation to Its Users, Took Additional Measures

OKX, one of the world's largest cryptocurrency exchanges, paid compensation to users whose accounts were stolen.

According to Wu Blockchain, OKX will take additional security measures to prevent the same problem from occurring in the future.

Users have been paid in full

According to the information provided, two OKX users whose accounts were stolen and whose money was stolen received compensation from the stock exchange.

According to Blockchain security firm SlowMist, hackers stole these two OKX accounts and created API keys that allow withdrawals and trading. Neither user was using two-factor authentication (2FA).

Instead, they were using SMS or email verification to log into their accounts. Hackers used verification codes sent to phones to drain users' accounts.

Will take additional security measures

According to the claim of blockchain researchers, known as Dilation Effect (DE), a security vulnerability has been detected in OKX's authentication system.

These claims may have made OKX users concerned about the security of the exchange. According to DefiLlama data, more than $600 million was withdrawn from OKX within a week. In comparison, more than $1.3 billion was transferred to Binance during the same period.