The decentralized exchange OKX experienced a security breach due to a compromised private key, as reported by cybersecurity firms.
In a statement on social media platform X, blockchain security company PeckShield revealed that the exploit allowed hackers to abscond with $2.76 million worth of Ethereum (ETH), Tether (USDT), and USDC.
According to another blockchain security company, SlowMist, there is a possibility that the private key of a proxy admin owner was exposed. This potential leak enabled attackers to pilfer funds from the platform following the upgrade of the DEX proxy contract on December 12th.
“We have taken immediate action to secure all user funds and revoke the contract permissions. We are working with relevant agencies to locate the stolen funds and will reimburse affected users with $370,000. A thorough review is underway to prevent similar incidents. Our apologies for any inconvenience caused.”
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