Amid the debate came word that the company would follow the EU’s MiCA regulations more closely. The exchange secured a regulatory license in Malta, where it planned to register, a key stop on the road to being able to operate lawfully in Europe.
OKX DEX resumes with real-time abuse detection after $100M laundering scandal
Source Cryptopolitan
OKX has officially resumed its decentralized exchange (DEX) operations with a new real-time abuse detection and blocking system designed to combat illicit activity.
In an X post, the CEO of OKX Star Xu, also known as Mingxing Xu, said: “OKX DEX will restart today with a real-time abuse detecting and blocking system.”
He went on to describe OKX Web3 as “the Chrome and search engine of the blockchain,” emphasizing that their deep understanding of on-chain data enables users to access real-time information across hundreds of blockchains, manage assets across multiple networks, and interact with millions of decentralized applications (dApps).
OKX DEX reboots after Lazarus Group scandal
The relaunch follows months of heightened scrutiny after the platform was linked to a $100 million laundering operation allegedly tied to North Korea’s Lazarus Group.
Now, the OKX DEX has real-time tools for identifying and blocking suspicious activity. The abuse detection system actively monitors on-chain behaviors across hundreds of supported blockchains, offering dynamic protection against laundering attempts and malicious smart contracts.
OKX’s DEX facilitated one of the biggest money laundering cases in crypto history in March 2025. Hackers associated with the North Korean Lazarus Group used the DEX to launder about $100 million worth of ether. It was one of a spate of $1.5 billion thefts intended to target Bybit, a rival crypto exchange.
Roughly 8% of the lifted crypto was transferred on OKX’s decentralized exchange, said Bybit’s chief executive officer Ben Zhou. The laundering process was played out using OKX’s Web3 proxy contracts, which can do transactions with blockchain services anonymously.
As regulators around Europe began to investigate, the exchange halted its DEX services overnight on March 18, 2025. It then teamed with compliance professionals to comb through its vulnerabilities and update its systems.
Now, the company claims its upgraded DEX aggregator has added online abuse protection, immediate IP banning, and real-time blacklist checking. Suspicious activity is monitored and closes in seconds, while the wallet addresses connected with hacks will automatically be blacklisted. The platform has been integrated with AML software outside of Japan as well.
Authorities target OKX for a range of compliance failures
The Lazarus Group incident is not the only thing that has bedeviled OKX this year. In April 2025, Malta’s Financial Intelligence Analysis Unit (FIAU) imposed a fine of €1.1 million on OKX’s European branch, OKCoin Europe.
The fine followed a quarterly audit from 2013 that found inadequate checks on privacy coins, stablecoins, and transactions with foreign virtual asset service providers. The regulators said that OKX had failed to identify and mitigate the risks of funds outside the European Union.
The U.S. Department of Justice (DOJ) commenced action in February 2025. OKX agreed to pay $505 million to resolve accusations that it ran an unlicensed money-transmitting business. Billions of dollars flowed through without sufficient checks, U.S. officials have said.
These successive in-breaches would put more heat on OKX to overhaul its systems and rethink its global AML process.
Experts laud OKX’s real-time detection system as a huge progress
The relaunch of OKX is under scrutiny in the crypto industry. However, many experts believe the introduction of the real-time detection system marks significant progress. They note that the move sets a new bar for decentralized exchange platforms, proving that exchanges can continue to offer Web3 services while keeping criminals out.
Yet some experts caution that there’s more work to be done. Lazarus and other hacking groups are still focused on decentralized tools, which avoid the ease of surveillance that comes with centralized exchanges. Others fear that even the best detection systems will not be enough to prevent future abuse.
OKX, meanwhile, is moving forward. The exchange recently rolled out new U.S. services, such as a unified trading platform and a Web3 wallet. It also established a West Coast office in San Jose, Calif., and named former Barclays executive Roshan Robert CEO of its U.S. unit.
Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Egrag Crypto, a well-known crypto analyst on the social media platform X, recently shared an optimistic price prediction for XRP. According to the analyst, technical analysis of the XRP price on the
Ripple (XRP) Price Sees a Surge, Solana Targets $600 in 2025 as Investors Increase Focus on New AltcoinThe cryptocurrency market is showing renewed momentum as Ripple (XRP) experiences a significant price surge, and Solana (SOL) sets its sights on a bold $600 target by 2025. Meanwhile, a rising altcoin, Lightchain AI, is capturing investor attention with its innovative ecosystem and strong presale performance, making it a compelling choice for forward-looking investors. Ripple […]
The cryptocurrency market is showing renewed momentum as Ripple (XRP) experiences a significant price surge, and Solana (SOL) sets its sights on a bold $600 target by 2025. Meanwhile, a rising altcoin, Lightchain AI, is capturing investor attention with its innovative ecosystem and strong presale performance, making it a compelling choice for forward-looking investors. Ripple […]
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US DollarThe Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand.
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand.
Gold Price Forecast: XAU/USD edges higher to near $3,250 as trade questions lingerThe Gold price (XAU/USD) trades in positive territory near $3,245 during the early Asian session on Monday. The renewed concerns over the US recession and US-China trade relations provide some support to safe-haven assets like Gold.
The Gold price (XAU/USD) trades in positive territory near $3,245 during the early Asian session on Monday. The renewed concerns over the US recession and US-China trade relations provide some support to safe-haven assets like Gold.
