EU Raids OKX, DEX Services Suspended Urgently - A Regulatory Storm in the Crypto World

On March 17, 2025, OKX suddenly announced the suspension of its DEX aggregator services, citing "security upgrades," and emphasized that user funds were safe, stating, "With money in, peace of mind." However, the underlying reasons are far more complex than they appear - OKX is caught in a regulatory storm.

Hacker Attacks, Money Laundering Allegations, OKX Forced to Respond

The incident traces back to February this year, when the US FBI confirmed that a North Korean hacking organization stole approximately $1.5 billion in cryptocurrency by attacking the Bybit exchange and laundered about $100 million of that through OKX's cross-chain bridge. Bybit promptly reported to the police, and European authorities swiftly intervened, launching KYC (Know Your Customer) and anti-money laundering investigations into OKX.

OKX's Situation is Quite Awkward. As a cross-chain aggregation platform, it does not directly provide liquidity services but connects sources of liquidity. However, this turmoil has still dragged it into a regulatory quagmire, especially at a time when it is about to start charging fees for DEX services.

Is OKX Innocent? The Gray Area of Regulation

If the crypto world is likened to an ocean, OKX is merely a shipyard providing shipping lanes, while the real "smugglers" are the North Korean hackers. OKX has no incentive to actively participate in money laundering, but due to its technical architecture, it has indeed become a tool exploited by hackers. This is not the first occurrence of a similar situation, as the conflict between decentralization and regulatory compliance is intensifying.

The Next Step for the Crypto World? The Game Between Regulation and Innovation

Bybit, as the victim, reporting to the police is understandable, while North Korean hackers remain one of the biggest security threats in the global crypto world. For OKX, how to continue advancing its cross-chain services under regulatory pressure may determine its future market position. For the entire industry, finding a balance between regulation and innovation, while avoiding collateral damage, is key to long-term development.