<ul><li>OKX DEX has been exploited, resulting in a loss of over $400,000 from the user wallets authorized to the platform.</li><li>It was reported that the incident was caused by a hacker gaining control over the management rights of an abandoned OKX DEX contract.</li><li>The platform has been seeing an increase in market share due to the recent developments around Binance.</li></ul>Reportedly, OKX DEX suffered a breach in their network, resulting in a loss of over $400K to users. OKX had regained control of the contract that was used to exploit the users and promised to pay back all the stolen amount. SlowMist, a blockchain security firm, has tweeted on X about the possibility of OKX&#39;s private key being leaked.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e6c9e183aed645e385f35668bd486974.png" />OKX DEX has suffered a security breach with some wallets authorized to the platform being used by the hacker to steal over $400,000. Based on the analysis by SlowMist, the hacker gained management rights for the abandoned contract due to a private key leak.An abandoned contract is a contract that is no longer used to perform user transactions. On December 12, OKX <a href="https://www.okx.com/nl/help/okx-smart-account-has-been-upgraded-to-provide-enhanced-security-for-your" rel="noopener noreferrer nofollow">upgraded</a> the contract to a newer version but forgot to disable its usage. This led the hacker to use the private key and gain control of the contract. This incident was noticed only after a user asked for assistance while discovering a loss of funds from the wallet. After knowledge of the exploit, OKX took immediate action to regain control of the contract and protect the remaining user assets.Read full article at<a href="https://cryptotale.org/okx-dex-contract-has-been-exploited-users-to-lose-over-400k/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

OKX DEX Contract Has Been Exploited: Users To Lose Over $400K

CryptoTale

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