2023-12-31
SharkTeam
Unpacking the OKX DEX Hack: A Detailed Post-Mortem of the Multi-Million Dollar Exploit
#OKXDEX
OKX DEX
#OKXDEX
- Reported: 2023-12
- Locations: Seychelles
- Motivations: #FinancialGain
- Sectors: #Cryptocurrency
Summary
In December 2023, OKX's decentralized exchange (DEX) aggregator lost $2.7 million due to a private key compromise. Attackers upgraded a deprecated proxy contract and used it to siphon funds from users who had previously approved the contract. Despite community reports, OKX initially offered only partial reimbursement of $370k. This incident highlights vulnerabilities in proxy contract implementations, even with centralized entities like OKX.