🚨💸 $630Million OUTLFLOW:
OKX LOSING TO 💎BINANCE & 💎GATE.IO 💸🚨
On June 11, OKX, one of the largest cryptocurrency exchanges, experienced an outflow of $2.4 million within 24 hours amidst rumors of security issues.
🔍 What’s Going on With OKX?
On June 9, OKX suffered a significant security breach that allowed attackers to create new API keys for unauthorized withdrawals. This incident has heightened concerns about the platform’s security measures.
📉 Recent Outflows:
24 Hours: $2.4 million
Past 7 Days: $630 million
Past Month: $355.96 million
This data indicates a substantial withdrawal of digital assets from OKX, reflecting a decline in user trust and a possible shift of investors to other platforms.
📊 Comparative Performance:
According to DefiLlama, other exchanges like Binance and Gate.io are outperforming OKX:
Binance:
7 Days: $11.36 billion inflow
1 Month: $407.57 million inflow
Gate.io:
7 Days: $50.83 million inflow
1 Month: $68.87 million inflow
🔐 Key Shortcomings in Security System:
The outflows from OKX are primarily due to serious security flaws, including vulnerabilities in their SMS notification system. Hackers exploited this to create new API keys, bypassing Google Authenticator Verification, leading to significant thefts.
🚨 Impact:
Two OKX account holders were affected, neither of whom had activated Google Authenticator.
OKX is investigating the breach and ensuring victims receive immediate issue resolution.
The exchange advises all users to enable two-factor authentication (2FA) and stay vigilant.
Amazing news for Binance users as this situation strengthens Binance's position as the leading cryptocurrency exchange!
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