OKX DEX suffers $2.7M exploit after proxy admin contract upgrade
The OKX DEX suffered an exploit resulting in a loss of around $2.7 million in cryptocurrencies after a proxy admin upgraded a contract that allowed a hacker to compromise the private key.
OKX decentralized exchange (DEX) suffered a $2.7 million hack on Dec. 13 after the private key of the proxy admin owner was reported to be leaked.
On Dec. 13, the blockchain security firm SlowMist Zone posted on X (formerly Twitter) that OKX DEX “encountered an issue.” According to the report, the issue began on Dec. 12, 2023, at approximately 10:23 pm after the proxy admin owner upgraded the DEX proxy contract to a new implementation contract and the user began to steal tokens.
Until September 2023, research shows that the crypto industry has suffered $1.5 billion in losses due to hacks, exploits and scams this year.
