Home | Breaking | Security Breach: $400,000 Stolen from OKX DEX Exchange

Security Breach: $400,000 Stolen from OKX DEX Exchange

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The decentralised cryptocurrency exchange OKX DEX was hacked a few hours ago by a bad actor who got access to the exchange’s wallets. This is one of the multiple attacks experienced by cryptocurrency exchanges. However, while most hackers tend to manipulate smart contracts, this case was different as the wallets’ credentials were stolen. 

Security Breach: OKX DEX Exchange Stolen for $400,000

In a recent X post published by Slow Mist, they reported that the OKX DEX proxy admin owner’s private keys were leaked. Close to $400,000 was stolen in digital currencies. Some of the tokens involved included ELON, USDT, wETH, USDC, SHIB, KEK, PEPE and KEK, among others.

It is worth taking into consideration that the hack did not affect the OKX exchange and that all users will be compensated if they were affected. The report released by Slow Mist reads as follows:

“The Proxy Admin Owner upgraded the contract again at 23:53:59 on December 12, 2023, with similar functionality, and continued stealing tokens after the upgrade. As of now, the attacker has profited approximately 430,000 U.”

The report goes on to explain the technicalities of the recent hack and how this affected users. At the same time, Slow Mist released information such as the DEX contact, the OKX DEX TokenApporve contract and the DEX Proxy, among other things.

Relevant Information:

DEX contract: 0x70cbb871e8f30fc8ce23609e9e0ea87b6b222f58

OKX DEX TokenApprove contract: 0x40aa958dd87fc8305b97f2ba922cddca374bcd7f

DEX Proxy: 0x55b35bf627944396f9950dd6bddadb5218110c76

Proxy Admin: 0x3c18F8554362c3F07Dc5476C3bBeB9Fdd6F6a500

Proxy Admin Owner: 0xc82Ea2afE1Fd1D61C4A12f5CeB3D7000f564F5C6

Several exchanges have been affected by hacks and attacks since Bitcoin (BTC) was released to the market over ten years ago. The most known hack that took place in the past was the one that affected Mt. Gox in 2013. At that time, Mt. Gox accounted for 70% of all Bitcoin transactions. This created a bear market that required multiple years for the crypto market to recover. 

Other hacks that affected the market included $40 million from Binance in 2019, or QuadrigaCX the same year for $190 million after the mysterious death of its founder and CEO. 

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