OKX beefed up account security after $2 million user hack
Hackers stole funds from an exchange client using deepfakes
13.06.2024 - 11:00
130
2 min
0
What’s new? The head of the OKX crypto exchange, Star Xu, has announced that it has strengthened measures to protect users’ accounts from hacking. According to him, the platform updated the facial recognition system, as well as implemented enhanced verification of requests to reset additional ways to protect accounts with balances above a certain limit. Such measures were in response to the hacking of one user’s account using deepfakes.
What else is known? Earlier, an OKX user reported that hackers bought his personal information and used artificial intelligence to create fake videos of his face. It allowed them to change his exchange account password and two-factor authentication (2FA) method to a Google Authenticator (GA) controlled account.
As a result, the victim lost over $2 million worth of cryptocurrencies. This incident was reported by the well-known analyst Colin Wu. According to him, the victim is a well-known member of the crypto community.
Also, this week, OKX reported that the fraudster obtained the data of “a small number of users” by providing fake court documents. The exchange’s officials clarified that the case is now being investigated by real law enforcers, and they can not reveal more details yet.
Earlier, several users claimed that their accounts were hacked, which led to a massive outflow of funds from the exchange. At the time, Star Xu stated that OKX’s security system was not breached.
Against the background of new information about the hacking of individual accounts, the daily outflow of funds from the exchange has intensified. At the time of writing the news, it exceeded $354 million, which significantly exceeds the total daily outflow from other leading exchanges.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 028
BTC
+3.82%
-
Ethereum
$3 351.55
ETH
+8.72%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.19
XRP
+7.4%
-
Dogecoin
$0.38426
DOGE
+1.68%
-
Cardano
$0.802078
ADA
-1.36%
-
Bitcoin Cash
$479.07
BCH
+8.14%
-
Polkadot
$5.88
DOT
+2.5%
-
Stellar XLM
$0.251271
XLM
-0.1%
-
Litecoin
$88.57
LTC
+4.94%