A new update has surfaced in the biggest cryptocurrency hack “Bybit Hack”, where the CEO Ben Zhou of Bybit has claimed that $ 100 million (40,233 eth) (40,233 eth) was laid through OKX’s Web3 Wallet and Decontrollable Finance (Defi) plate. According to Bloomberg report, the Regulators of the European Union are now investigating the role of Crypto Alternate Okx, on which $ 1.5 billion Bybit hack Accused of helping in money laundering from. The incident has created a situation of new controversy and anxiety in the crypto industry, making the regulators feel more actively working.
Bybit Hack and Okx accused of laundering
The biggest crypto hacked so far was the alleged Lazarus Workforce of North Korea in Hack. Bybit’s CEO Ben Zhou issued a statement after this hack, alleging that $ 100 million was launched through OKX’s web3 platform. However, OKX denied the allegation, saying that it was completely misinformed and bybit has wrongly tried to surround them. Okx also said that their wallet service is completely decentralized and in such a situation no legal pressure can be made on them.
This case is particularly important for EU Regulators because they are trying to investigate whether the web3 pockets and decentralized platforms of Okx “Markets in Crypto -ssets” (MICA) are under the rules. Under the MICA rules, if Okx is considered within this scope, it may be banned for not following the terms of the regulators of the European Union.
Significantly, recently a report was also released on this $ 1.5 billion hack, which told that The reason for bybit hack was Keep Make Investments Malware,
OKX reaction and European Union’s approach
Okx completely dismissed the allegations of Bybit and claimed that the company has always worked according to the law. Okx World CMO Haider Rafique, describing these allegations as “highly incredible”, said that there is no truth in these allegations. Also, Okx also said that their services can be considered decentralized, and if it happens, he may be out of the MICA rules.
However, regulators from countries such as Austria and Croatia believe that OKX’s web3 pockets and services should be kept under the supervision of the European Union, as it has millions of users and millions of dollars transactions. Regulators of the European Union are investigating whether Okx can be excluded from the rules, considering it to be completely deserted.
Conclusion
This position after Bybit Hack has become a major challenge for Crypto Alternate Okx. Even though the OKX has denied the allegations, the dispute between the European Union regulators and the bybit can lead to a new debate over the law and rules in the Crypto World. It is clear from this matter that the pressure of regulators in the crypto industry will increase and if these exchanges have to continue their operations, they will have to take steps towards more transparency and security.
