OKX DEX suffers $2.7M exploit after proxy admin contract upgrade
The OKX DEX suffered an exploit resulting in a loss of around $2.7 million worth in cryptocurrencies after a proxy admin upgraded a contract that allowed a hacker to compromise the private key.
The decentralized exchange (DEX) of the cryptocurrency exchange OKX (a.k.a OKX DEX) suffered a $2.7 million hack on Dec. 13 after the private key of the proxy admin owner was reported to be leaked.
On Dec. 13, the blockchain security firm SlowMist Zone posted on X, formerly known as Twitter, that OKX DEX “encountered an issue.” According to the report, the issue began on Dec. 12, 2023, at approximately 22:23:47 after the proxy admin owner upgraded the DEX proxy contract to a new implementation contract and the user began to steal tokens.
Prior to September 2023, research shows that this year the industry has suffered $1.5 billion in losses at the hands of crypto hacks, exploits and scams.
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