OKX DEX
Contents
OKX DEX - REKT
CeDeFi strikes again.
OKX’s decentralised exchange aggregator has fallen victim to one of the oldest tricks in the book, losing $2.7M to a private key compromise.
The losses were caused by a compromised proxy contract, which was upgraded and used to steal funds from users who had approved it.
After community reports of funds going missing, Slowmist raised the alarm.
An official acknowledgement came shortly after, stating that the affected contract was a deprecated version, and had now been secured.
But if the contract was deprecated, why did they wait until it got rekt?
Credit: SlowMist
Although OKX itself is a centralised exchange, it runs a DEX aggregator (featuring “best-in-class security”, apparently) to help its more intrepid users seek out more niche opportunities on-chain.
According to SlowMist, the proxy admin of a trusted contract controlling OKX DEX trades was compromised. Then, shortly before midnight UTC, the implementation was upgraded in order to siphon user funds …
CeDeFi strikes again.
OKX’s decentralised exchange aggregator has fallen victim to one of the oldest tricks in the book, losing $2.7M to a private key compromise.
The losses were caused by a compromised proxy contract, which was upgraded and used to steal funds from users who had approved it.
After community reports of funds going missing, Slowmist raised the alarm.
An official acknowledgement came shortly after, stating that the affected contract was a deprecated version, and had now been secured.
But if the contract was deprecated, why did they wait until it got rekt?
Credit: SlowMist
Although OKX itself is a centralised exchange, it runs a DEX aggregator (featuring “best-in-class security”, apparently) to help its more intrepid users seek out more niche opportunities on-chain.
According to SlowMist, the proxy admin of a trusted contract controlling OKX DEX trades was compromised. Then, shortly before midnight UTC, the implementation was upgraded in order to siphon user funds …
IoC
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