According to cybersecurity companies, decentralized exchange (DEX) OKX has suffered a security breach due to a compromised private key.
In a post on social media platform say The exploit allowed the hackers to get away with $2.76 million worth of Ethereum (ETH), Tether (USDT), and USDC.
“PeckShieldAlert OKX DEX suffered a Private Key Leakage attack, resulting in approximately $2.76 million worth of cryptos being stolen. *Withdrawal* of your possible reimbursement, to https://etherscan.io/address/0x40aa958dd87fc8305b97f2ba922cddca374bcd7f”
Another blockchain security company, SlowMist, say The private key of a proxy manager’s owner may have been leaked, allowing the attackers to steal from the platform after the DEX proxy contract was upgraded on December 12.
“The functionality of the new implementation contract is to directly call the claimTokens function of the DEX contract to transfer tokens. Then attackers started calling the DEX proxy to steal tokens. The Proxy Admin Owner upgraded the contract again on December 12, 2023 at 11:53:59 PM with similar functionality, and continued to steal tokens after the upgrade.”
OKX say the incident concerns an outdated smart contract. The DEX says it is now investigating the attack.
“We took immediate action to secure all user funds and revoke contract authorizations. We are working with relevant authorities to locate the stolen funds and will reimburse affected users in the amount of $370,000. A thorough review is being conducted to prevent similar incidents. We apologize for any inconvenience.”
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