OKX has taken its DEX aggregator offline after an EU investigation uncovered its role in laundering funds from the $1.5 billion Bybit hack.
The exchange claims North Korea’s Lazarus Group exploited its DeFi services to move stolen assets.
To address regulatory concerns, OKX has opted for a temporary shutdown while enhancing security systems. The company has introduced real-time tracking of hacker wallets and an address-blocking mechanism for its Web3 platform. While stressing that it does not hold customer funds, OKX describes its Web3 wallet as a gateway to decentralized trading across multiple blockchains.
Beyond the EU, the exchange is facing scrutiny elsewhere. It recently paid $84 million to settle a U.S. probe, adding to the mounting regulatory pressure.
Meanwhile, European policymakers worry about the U.S.’s relaxed crypto stance under President Donald Trump. ECB official Francois Villeroy de Galhau has warned that the U.S.’s hands-off approach could trigger financial instability, drawing parallels to past crises that started in America. Despite global uncertainty, Europe continues to strengthen its regulatory grip, positioning itself as a leader in crypto banking.
Growing economic uncertainty is pushing investors and central banks toward gold, with fears of a weakening U.S. dollar driving demand for the precious metal, according to Daan Struyven, Goldman Sachs’ co-head of global commodities research.
A recent survey commissioned by Grayscale Investments reveals that affluent investors are playing a significant role in the growing adoption of cryptocurrency in the United States.
The SEC is reconsidering a proposed rule that would impose stricter requirements on how investment advisors handle cryptocurrency custody.
President Donald Trump’s pro-crypto policies have sparked global debate, with many in the U.S. praising them while Europe expresses concern over potential financial instability.