Okx, a Seychelles-based cryptocurrency exchange, clarified the information regarding a recent security incident that allowed unidentified criminals to take control of the accounts of a few customers, draining these. In a statement, Okx stressed that a third party had forged judicial documents and obtained user data, but that the users involved in this incident had been made whole.
Okx Acknowledges Security Incident Involving Judicial Documents Forgery
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Okx Recognizes Security Breach Due to Document Forgeries
Criminals are employing new and innovative ways to commit cryptocurrency-linked crimes. Okx, a Seychelles-based cryptocurrency exchange, recently clarified the facts regarding a security incident involving several customers. In a post on X, Okx reported that all of the users involved in this incident had been compensated satisfactorily, without further details.
Okx also explained that the incident had nothing to do with the two-factor authentication (2FA) method chosen by these users, but that they recommended using Google Authenticator over regular SMS. Nonetheless, according to local reports, the latest version of Okx’s mobile app dropped the SMS verification code for withdrawals and instead replaced it with 2FA using Google authenticator and emails.
Okx reinforced its trust in its internal security system, which has been tested in over 10 years. “We have full confidence in the security and will continue to adhere to the principle of compensation for clients’ capital losses due to our own reasons,” it stressed.
Furthermore, it revealed the exchange delivered data of a “few users” to an unidentified third party that forged undetermined judicial documents. Okx declared that it could not give more details due to the existence of ongoing investigations, but it announced an overhaul of its judicial cooperation processes, introducing a new verification method and strengthening the security level of the artificial intelligence’s (AI) facial verification.
“There have not been new user account thefts or data leaks,” Okx concluded. Before, on June 11, Singapore-based Quantmatter reported having lost $11.6 million as a result of an account hack, but it is still unknown if this is linked to the security incident reported by Okx.
What do you think about Okx’s recent security incident? Tell us in the comments section below.
