Unpacking the OKX DEX Hack: A Detailed Post-Mortem of the Multi-Million Dollar Exploit
Contents
Unpacking the OKX DEX Hack: A Detailed Post-Mortem of the Multi-Million Dollar Exploit
Ervin Zubic
Coinmonks
Ervin Zubic
·
Follow
Published in
Coinmonks
·
5 min read
·
Dec 31, 2023
1
Investigating the OKX DEX hack: Understand the timeline and measures taken following a severe security breach that impacted decentralized exchange users.
A professional woman connecting dots on a chalkboard filled with Ethereum transactions in a black and white pencil drawing.
Connecting the Dots. Image created using DALL-E.
1. Summary:
Incident: OKX’s decentralized exchange aggregator suffered a $2.7M loss due to a private key compromise.
Losses were caused by a compromised proxy contract, which was then used to steal funds from users who had approved it.
Tracking the Trail: Visualization of Funds Flow from the OKX Exploit using MetaSleuth.
Figure 1. Stolen funds tracking via MetaSleuth (MetaSleuth, 2023).
2. Background:
Founded in 2017 and headquartered in Seychelles, OKX is a prominent centralized cryptocurrency exchange ranked 10th globally in terms of trading volume. The platform is known for its extensive offerings, including …
Ervin Zubic
Coinmonks
Ervin Zubic
·
Follow
Published in
Coinmonks
·
5 min read
·
Dec 31, 2023
1
Investigating the OKX DEX hack: Understand the timeline and measures taken following a severe security breach that impacted decentralized exchange users.
A professional woman connecting dots on a chalkboard filled with Ethereum transactions in a black and white pencil drawing.
Connecting the Dots. Image created using DALL-E.
1. Summary:
Incident: OKX’s decentralized exchange aggregator suffered a $2.7M loss due to a private key compromise.
Losses were caused by a compromised proxy contract, which was then used to steal funds from users who had approved it.
Tracking the Trail: Visualization of Funds Flow from the OKX Exploit using MetaSleuth.
Figure 1. Stolen funds tracking via MetaSleuth (MetaSleuth, 2023).
2. Background:
Founded in 2017 and headquartered in Seychelles, OKX is a prominent centralized cryptocurrency exchange ranked 10th globally in terms of trading volume. The platform is known for its extensive offerings, including …