OKX Accuses Bybit of Misleading Information About Laundering Stolen Funds
Date: 2025-03-13 Author: Henry Casey Categories: BUSINESS
According to Bloomberg, Bybit CEO Ben Zhou said that 40,233 ETH (around $100 million) were lost in a recent incident, which was allegedly passed through OKX’s Web3 services for subsequent laundering.
The publication also noted that regulators from 27 EU countries discussed these claims at a meeting organized by the European Securities and Markets Authority’s Committee on Digital Finance. The regulators have begun to look into OKX’s services, which, according to Bybit, could have been used by hackers to launder illicit funds.
However, OKX management has strongly rejected Bloomberg’s reports about an investigation into its activities in the EU. The company said Bybit's allegations were untrue and an attempt to distract attention from its own security shortcomings. OKX stressed that its Web3 services were similar to those offered by other market participants and were not related to the Bybit hack.
Earlier, Ben Zhou reported that of the $1.4 billion stolen by the hackers, about $280 million had already been laundered and could not be traced.
