OKX, a Seychelles-based cryptocurrency exchange, had its widely used decentralized exchange aggregator services momentarily halted following their exploitation by North Korean hacking collective Lazarus Group in laundering over $1.4 billion from major Dubai-based cryptocurrency exchange Bybit Technology last month, reports The Record, a news site by cybersecurity firm Recorded Future.
Implementing such a shutdown would allow several improvements that would curtail abuse of the tool, according to OKX, which noted that Lazarus' money laundering activities have not been successful while lambasting the media and Bybit over news coverage that allegedly questions the firm's integrity and accusations of being involved with the North Korean hackers, respectively.
Such a development comes weeks after OKX admitted guilt over U.S. Justice Department charges regarding unlicensed money-transmitting business operations, which resulted in a fine exceeding $504 million.
"...[I]n their failure to adhere to U.S. law, significant illicit transactions which furthered other criminal activity went undetected on their platform," said FBI Assistant Director in Charge James Dennehy.
