OKX Shuts Down DEX Aggregator After EU Probe

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.

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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.

Alexander Stefanov