European cryptocurrency regulators are examining the use of a service offered by crypto exchange OKX that hackers used to launder $1.50 billion stolen from trading platform Bybit, according to people familiar with the matter.
Regulators are focusing on OKX's Web3 service, which OKX promotes as a decentralized financial platform and self-custodial wallet that gives cryptocurrency traders access to various exchanges and blockchains, two people familiar with the matter said. Bybit said authorities believe hackers linked to North Korea laundered about $100 million in stolen cryptocurrency through the Web3 platform.
Informed sources: European regulators are reviewing OKX's Web3 service
2025-03-11 13:19:28
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