OKX, in response to allegations that it was used for money laundering in the $1.5 billion Bybit hack, stated that it collaborated with law enforcement and Bybit by freezing funds in it’s centralized exchange, tracking hacker addresses, and blocking them from its decentralized services

Event date

Mar 11, 2025 - 12:00am

Quotes that support claims

The firm stated it froze Bybit-associated funds flowing into its centralized exchange, and that it has collaborated with law enforcement and Bybit's legal team. Mingxing also stated its incident response team has "offered technical support" to Bybit researchers and built a tool to track the hacker’s latest addresses in realtime. "Regardless of what others do or say, we take our commitment to compliance seriously," OKX President Hong Fang said on X.

According to the exchange, it implemented two immediate measures when the security breach occurred. The first was freezing associated funds that entered its centralized exchange, while the second was developing a feature to block addresses linked to the attack from using its decentralized services. The exchange also noted that it has been assisting Bybit in tracking and mitigating the movement of stolen assets