The OKX decentralized exchange suffered a security breach on December 12, resulting in a theft of over $430,000 worth of crypto.

The breach was facilitated by a leaked private key, which allowed hackers to control the protocol and steal users' tokens.

The stolen tokens included USDC, USDT, Pepe, WETH, Rollbit, SLP, and SHIBA INU.

OKX responded by securing user funds, revoking permissions for the compromised contract, and collaborating with authorities to recover the stolen funds.

OKX has pledged to reimburse affected users with $370,000.

This incident contributes to the growing number of DeFi exploits in recent times, emphasizing the need for vigilance in dealing with decentralized finance protocols.

The breach resulted in $2.7 million in financial damages, and a bounty has been established by Arkham to find the responsible party.

Other platforms like HTX and Poloniex have also reported losses from similar hacking incidents.