$2 Million Stolen in OKX Crypto Scam Using Deepfake Video

Scammers have stolen $2 million worth of cryptocurrency assets from a customer of the crypto exchange OKX.

According to reports, the attackers obtained the identity information of Lai Japanese Fang Chang. This sensitive data was allegedly leaked during a Telegram data breach. Using these details, the scammers accessed Chang’s OKX account by exploiting the “forgotten password” option.

Assuming Chang’s identity, the attackers managed to change all his security settings. They even used a deepfake video of the victim to alter his email ID, phone number, and Google authenticator settings. Within 24 hours of these changes, the account lost over $2 million worth of various crypto assets.

OKX has confirmed that the user’s account was compromised and is assisting the victim in recovering it. The platform has also taken legal action against the attackers.

In a related incident, an X user recalled a previous attack on an OKX wallet, resulting in the loss of 50,000 TRC-20 USDT. The user reported that hackers used a page hijacking technique to replace the “Add GAS” function with “Update TRC Account Owner Permissions,” tricking the victim into granting unauthorized access.

“Recently, a friend using the OKX wallet experienced a page hijack and lost 50,000 USDT (TRC-20).”

These incidents follow a $430,000 exploit on OKX DEX. Reports indicated that the OKX DEX proxy admin owner’s private key had leaked, allowing hackers to gain control of the protocol and alter it with malicious functions. OKX had to revoke contract permissions to prevent further damage.

Centralized cryptocurrency exchanges have been frequent targets for attackers. Last week, the Japanese crypto exchange DMM Bitcoin was hacked for $305 million. Prior to that, Estonia-based crypto exchange CoinsPaid suffered a $7 million hack.

With the rise of AI-powered tools, hackers now have a potent weapon in their arsenal. Deepfake videos are increasingly being used to deceive market participants, raising industry-wide concerns over the ethical implications of AI use.

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