In a new development that has grabbed considerable attention among news publication platforms, some OKX exchange users were victims of a recent elaborate scam ploy that led to the loss of significant crypto assets.
For context, hacking into user accounts through lapses in Short Message Service (SMS) security protection is a new trick gaining prominence and might explain the infiltration into these OKX users' accounts.
What Transpired?
According to SlowMist, a blockchain security post on X, two OKX users reportedly fell victim to the hackers' tricks on June 9's morning. Both scams reportedly involved risk notifications via SMS sent from Hong Kong, prompting the users to create new Application Programming Interface (API) keys having updated trading and withdrawal permissions.
The blockchain security outfit explained that it was a well-planned and coordinated breach, adding that the wallet addresses involved in both scams are being investigated, with promises of timely updates as events unfold. Notably, detailed information will remain confidential to preserve the privacy of the users involved.
While investigations into the security breach progress, some people have speculated that the affected OKX users were victims of this crypto scammers' ruse because they failed to activate their 2-factor authentication (2FA) security features, giving the hackers easy access to their crypto assets.
OKX Management Team Reacts
The exchange's management team reacted to the unfortunate incident by contacting the affected users, assuring them that appropriate investigations would begin in earnest.
Also, the management team noted that it is ready to accept full blame and responsibility for all of the crypto assets lost if investigation findings reveal that the loss was due to security lapses from the trading platform's end.
The team urged all OKX users to exercise patience while the investigations are still underway, avoid needless assumptions, and ensure to set up their 2FA and other security measures to protect their assets from the deceit of these ever-innovative crypto scammers.
OKX Records Outflows While Other To Exchanges Registers Inflows
While investigations about the party responsible for the security breach have proceeded, OKX has seen significant net outflow in its past 24-hour and 7-day statistics, implying that users might be doubting the exchange's credibility.
According to DefiLlama data, OKX recorded net outflows valued at about $499.2 million and $909.75 million, respectively, in its 24-hour and 7-day statistics. On the other hand, competitors like Binance, HTX, KuCoin Bitstamp Gate io, etc, all recorded net inflows.
