OKX DEX Loses Over $400,000 To Hackers – What Happens To Customer Funds?
According to blockchain security company SlowMist, OKX DEX, a decentralized exchange aggregator platform, lost cryptocurrency valued at over $400,000.
An attacker was able to transfer tokens that users had not allowed by compromising the management privileges of a market maker contract, according to the explanation for the vulnerability.
On the OKX DEX aggregator platform, a deprecated proxy contract was the subject of a recent vulnerability that allowed a hacker to obtain administration access to the contract without authorization.
Related Reading: Immutable Momentum: IMX Rockets To $2.21, Scaling Heights Unseen Since 2022 OKX DEX: Deprecated Contract Raises Concerns When a protocol stops actively using a contract to carry out user transactions, it is considered deprecated.
It appears that OKX has updated the contract but hasn’t entirely stopped using it.
🚨SlowMist Security Alert: OKX DEX Proxy Admin Owner’s Private Key Suspected to be Leaked🚨 According to information from SlowMist Zone, the OKX DEX contract appears to have encountered an issue.
After SlowMist’s analysis, it was found that when users exchange, they authorize…