Cryptocurrency exchange OKX has temporarily disabled its DEX aggregator services following reports that the platform was being used to launder funds stolen in the Bybit hacking attack.
In an official statement released on Monday, OKX emphasized that the decision was made after consultations with regulators. The exchange stated that it plans to introduce additional security measures to prevent misuse.
“We have identified an attempt by the Lazarus Group to exploit our DeFi services in coordinated attacks. Additionally, we have observed increasing competitive pressure aimed at undermining our operations,” OKX stated.
According to Bloomberg, European regulators have begun scrutinizing OKX’s decentralized finance (DeFi) activities to assess their compliance with the new Markets in Crypto-Assets (MiCA) regulations.
Connection to the Largest Bybit Hack
OKX’s decision follows an investigation by European regulators that began after the $1.5 billion hack of Bybit. In February 2025, the North Korean-linked Lazarus Group executed one of the largest attacks on a centralized exchange (CEX).
According to Bybit CEO Ben Zhou, the hackers moved $100 million through OKX’s Web3 proxy, attracting the attention of law enforcement agencies.
Recently, it was revealed that the hackers converted the stolen funds into Bitcoin. Data from Arkham shows that their wallets currently hold approximately 13,562 BTC (~$1.148 billion), making North Korea one of the top five Bitcoin-holding nations in the world.
Further Platform Restrictions
In a separate statement on X (formerly Twitter), OKX assured users that its crypto wallets will remain accessible. However, the exchange will temporarily restrict the creation of new wallets in certain jurisdictions.
EU regulators continue to analyze OKX’s operations and other platforms for compliance with MiCA regulations. If violations are found, the exchange could face further regulatory action.
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