OKX DEX aggregator back online with new security upgrades

Crypto exchange OKX has brought its decentralized exchange (DEX) aggregator back online with new security upgrades after it was paused in March to prevent further misuse by the North Korean hacking crew, the Lazarus Group.

OKX founder and CEO Star Xu announced the return of the DEX aggregator, named OKX Web3, on May 4 in a series of posts on X.

Several new features have been added to the aggregator, including a “real-time abuse detecting and blocking system,” Xu disclosed.

The crypto exchange also announced the latest additions to its onchain analysis tool, which include new security measures to identify suspicious or fraudulent activity.

Highlighting the new features of the DEX aggregator, Xu adds that it is a “browser and search engine for blockchain.”

According to the crypto exchange, the new capabilities of its onchain analysis tool will be used to identify "suspect addresses, risky transactions, and fraudulent activity."

It is part of a wider effort by the exchange to "detect and deter hackers and other bad actors."

Announcing the return of the DEX aggregator, Xu says:

“Great news! We're excited to announce the return of OKX Web3, now with superior capabilities to detect and block abuse. This is a crucial step in our commitment to safeguarding the Web3 ecosystem.”

Earlier in March, crypto exchange OKX paused its decentralized exchange aggregator to prevent “further misuse” by North Korean hacking collective Lazarus Group.

The exchange also said at the time it was developing a hacker address system that would track bad actors’ latest addresses and block them.

After being spotted by crypto analytics firm TRM Labs, the crypto exchange is also planning to add a capability to detect and block transactions from suspicious addresses.

The exchange is also working with leading blockchain security firms to audit and verify its products and services.

Another feature being added to the onchain analysis tool categorizes wallet holders by identifying them as possible whales or snipers.

Its analysis tool is used to scan the blockchain for suspicious activity and can identify transactions that are likely to be fraudulent.

The crypto exchange is also planning to launch a bug bounty program to encourage whitehat hackers to report any vulnerabilities they find in its systems.

According to a March 11 report by Bloomberg, European Union financial watchdogs are investigating the firm’s DEX aggregator and its wallet services for an alleged role in laundering funds from the $1.4 billion Bybit hack in February.

The crypto exchange responded the same day, arguing that Bloomberg is mistaken because the self-custody wallet service swap feature serves as an aggregator and is not a custodian of customer assets.

Earlier in February, reports alleged that crypto exchange eXch will cease operations after being used by North Korean hackers to launder funds from the Bonchain (PYL) token hack.

Announcing the closure of its services on May 1, eXch confirmed it is shutting down due to “unforeseen circumstances.”

The exchange initially denied reports from crypto sleuths suggesting that it had laundered digital assets for the Lazarus Group. However, it later admitted to processing some funds from the February hack.