After a series of hacks of accounts on the OKX crypto exchange, representatives of the platform said that the hacker forged court documents to obtain personal information of a very limited number of users.
The publication reports that all affected users will be reimbursed for their losses. It is also noted that the OKX account protection system has been in operation for more than ten years and is completely safe. However, in the future the company will adhere to the principle of compensation for losses caused by its fault.
Previously, an analysis of the Dilation Effect revealed potential vulnerabilities in the exchange’s security mechanism. The study found that a hacker can bypass Google Authenticator's 2FA service and switch to lower security checks such as SMS, adding an address to a whitelist, etc.
However, OKX denied this assumption. According to the appeal, the hack has nothing to do with Google Authenticator or SMS verification.
The case is already being investigated by judicial authorities, so the company is not disclosing specific details. However, the appeal states that OKX has streamlined the judicial cooperation process, introduced a verification mechanism and strengthened the security level of facial recognition using AI. In the future, the company will introduce a mechanism for expiring the verified address in the address book to prevent such incidents from happening again.
On June 9, analytics company SlowMist reported suspicious hacking of OKX accounts. The attacks affected two Japanese users and were similar in execution.
In addition to the generalities mentioned by another hacked user AsAnEgg, the SMS notification of the risk came from Hong Kong and a new API key was created (with withdrawal and trading permissions, so we previously suspected cross-trading intent).
Wallet addresses associated with the hacker are currently being tracked by SlowMist, but the team is not releasing additional information at this time to avoid interfering with the active investigation.
Analysts asked other possible victims of the attackers to contact them. Earlier, journalist Colin Wu also reported on an OKX client who was robbed of more than $2 million using AI.
On June 11, the operations manager of the market maker QuantMatter under the nickname Crypto LaLa became a victim of hackers. She said the hacker withdrew $11 million in assets from her main and sub-accounts.
The hacker gained full access to her account. He converted the assets into ETH and withdrew all funds in 25 minutes. Crypto LaLa noticed this on one of their sub-accounts. When she checked the main account, all the money had already been stolen.
As with other incidents, the last known victim of the attackers did not receive any security alerts. There has been no information about compensation for the QuantMatter employee yet.
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