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OKX says a Coldcard exploit stopped $26.3 million in scam losses

OKX said it blocked suspicious transfers tied to the Coldcard exploit during the first half of the year.

Reported · Written up by our desk · Market Structure

OKX told The Block that it prevented $26.3 million in scam related losses by stopping suspicious transfers connected to the Coldcard exploit.

The exchange said it used its monitoring and transfer controls to disrupt attempted withdrawals or movements that would have otherwise resulted in user losses.

OKX characterized the period as producing record inflows to centralized exchanges, after the exploit drove activity toward platforms it viewed as better able to detect and stop fraudulent transfers.

The Block reported the figures based on what OKX shared about its first half performance and incident response.

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