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

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.