European Union organizers are looking for the OKX’s role in the case of washing by BYBIT

European organizers closely study OKX in laundering money from a huge electronic theft on bybit.

National organizational bodies across the European Union circulated on this issue during a meeting led by the Standing Committee for Digital Finance for Securities and European Markets (ESMA) on March 6.

OKX faces intense scrutiny

The concentration of the investigation is the WEB3 service for OKX, which coincides with it is a DEFI (Defi) platform and a self -self that facilitates access to multiple groups and exchanges. Reports indicate that infiltrators, who are allegedly linked to North Korea, have transferred nearly $ 100 million in the coded currency stolen through this platform.

Bloomberg a report It indicates that the authorities are now evaluating whether the OKX WEB3 service is subject to the newly implemented market power in Cryptoassets (MICA), which aims to oversee digital asset providers and ensure compliance with financial security measures.

Some organizers, especially from Austria and Croatia, have argued that the OKX WEB3 service must be subject to the organizational framework for MICA, although the full decentralized platforms are exempt under the rules that entered into force in late 2024.

The main discussion point in the meeting was whether the integration of the main system on the main OKX website and its connection to the okapore entity is the reasons for the application under MICA. An organizational offer at the meeting is said to show how the OKX user interface allows the distinctive symbol bites and portfolio connections directly through its website, indicating the central supervision instead of a purely decentralized model.

In addition, officials raised concerns about possible violations of the sanctions against North Korea, given the washing activities associated with the attack. The result of this organizational scrutiny can lead to sanctions on encryption and more discussions on the application of European Union financial laws on similar platforms.

OKX responds

OKX refused the strong claims, Call Bloomberg report is misleading. Exchange explained that the Web3 portfolio and its exchange operates similar to those of other major encryption platforms, and serve as complexes to improve the efficiency of the user rather than facilitating illegal transactions.

According to OKX, its immediate response to the BYBIT breach included freezing money to its central exchange and introducing a new tool to discover and prohibit the addresses associated with infiltrators from accessing exchange services or decentralized portfolio. The company expressed disappointment at the BYBIT statements and argued that it contributed to the wrong information by clarifying an investigation into OKX wrongly.

He even continued to emphasize that organizational audit is not directed to its operations, but it stems from the broader industry discussions on decentralized financing regulations. In addition, OKX suggested that the real issue lies in the deficiencies in BYBIT, rather than any violations on its part. The Stock Exchange was strongly rejected as false allegations that were distorted in the wake of the electronic attack.