OKX claimed that its Web3 service is a self-custody wallet and swap aggregator and OKX can do little due to it’s decentralized self custody nature

Event date

Mar 11, 2025 - 12:00am

Quotes that support claims

"OKX Web3 wallet is a pure self custody software, as everybody knows," OKX CEO Xu Mingxing said on social media, arguing that there is little the exchange can do to assist in rescuing funds despite the "technical controls" it implemented to block IPs of users from prohibited countries. "I can’t understand why bybit keeps making this ridiculous statement without showing understanding of basic facts about self custody technology

“I can’t understand why Bybit keeps making this ridiculous statement without showing understanding of basic facts about self-custody technology. Actually, Bybit built their own Web3 wallet and DEX base using our Wallet/DEX API.”