Cryptocurrency exchange OKX has temporarily suspended its DEX aggregator after European regulators raised concerns about its use by hackers to launder funds stolen from the Bybit platform.

“After consulting with regulators, we made a proactive decision to temporarily suspend our DEX aggregator services,” OKX stated. “This move allows us to implement additional security measures and prevent further misuse.”

According to Bloomberg, hackers linked to North Korea used OKX’s Web3 service to launder approximately $100 million from the $1.5 billion stolen. The Bybit hack in February was the largest and one of the most sophisticated attacks on the crypto market.

OKX operates under the EU’s new MiCA regulations. On March 6, regulators discussed the exchange’s Web3 service at a meeting of the European Securities and Markets Authority.

OKX promotes its Web3 wallet as a DeFi platform with self-custodial storage and access to various blockchains. A company representative confirmed that the DEX aggregator is part of this platform.

Bybit CEO Ben Zhou stated on March 4 that $100 million in stolen funds were laundered through OKX. The exchange disputed this claim but provided no further details.

Founded in 2017 and registered in the Seychelles, OKX offers trading in over 300 cryptocurrencies. According to the company, 53 million wallets have been created on its Web3 platform, supporting 100 blockchains.