It was confirmed that this incident was caused by the theft of management authority for a discontinued OKX DEX market merchant contract, resulting in the transfer of assets from 18 addresses authorized by the contract.

According to SlowMist's report, there seems to be a problem with the OKX DEX contract. SlowMist's analysis found that when users exchange, they authorize the TokenApprove contract, and the DEX contract transfers the user's tokens by calling the TokenApprove contract. The DEX contract has a claimTokens function that allows a trusted DEX Proxy to call it, which calls the TokenApprove contract's claimTokens function to transfer authorized user tokens. The trusted DEX Proxy is managed by the Proxy Admin, and the Proxy Admin Owner can upgrade the DEX Proxy contract through the Proxy Admin.

On December 13th, according to Twitter user @eno_eth, community member @axe_ping claimed that wallet funds were stolen and a large amount of funds were transferred to a hacker address starting with 0x1f14. All stolen wallets were authorized by OKX DEX, and 1 hour ago OKX removed the proxy address that was attacked by the hacker. Currently, SlowMist team is tracking and analyzing the situation.

According to the official website, DeFi asset management protocol Enzyme has now been integrated into the OKX Web3 wallet. Users can explore DeFi protocols, filter and invest in on-chain strategies, and create and manage assets on Enzyme through the OKX Web3 wallet plugin. Enzyme is a decentralized asset management infrastructure built on Ethereum and Polygon, and connects to dozens of DeFi protocols, providing users with a range of tools and features to build and run various on-chain asset management strategies.

OKX officials stated that there have been frequent inscriptions activities on the OKTC chain, causing temporary disruptions to the OKX Web3 wallet service. The issues related to wallet asset display and trading services have now been resolved and on-chain assets have not been affected. However, the inscriptions on the OKTC chain are still being optimized for external third-party Dapp trading services and will be temporarily suspended.

OKX officials posted on X platform that during an interview with Forbes, OKX CMO Haider stated that they are strengthening their Web3 business in India.

According to official sources, on December 1st, 2023 at 4:00 PM (UTC+8), OKX will officially launch leveraged trading, simple earning, and perpetual contracts for AUCTION/USDT on its website, app, and API.

Lookonchain monitoring shows that many wallets are withdrawing ID from exchanges in preparation for depositing them into Upbit, following the news that Upbit will list ID. Wallet addresses starting with 0x2b51 have withdrawn a total of 1.55 million ID (approximately $50.1 thousand) from Binance and OKX, and are preparing to deposit them into Upbit. Previously, it was reported that Upbit will list ID on the BTC market.

Data monitored by Lookonchain shows that many wallets are withdrawing ID from exchanges and preparing to deposit them into Upbit, due to the listing of ID on Upbit. Wallet "0x2b51" has withdrawn 1.55 million ID (worth $501,000) from Binance and OKX, and is preparing to deposit them into Upbit.

According to official sources, OKX will launch Injective (INJ) at 18:00 (UTC+8) on November 30th. Recharge is now open, and INJ withdrawals will be available at 18:00 (UTC+8) on December 1st.