Fraudsters have stolen $2 million worth of cryptocurrency assets from a user of crypto exchange OKX.

According to WuBlock, the attackers “bought” the identity information of Lai Japanese Feng Chang. This information was allegedly leaked in a telegram. Data breach.

Using these sensitive details, the fraudsters gained access to Chang’s OKX account. They then took control of the account using the “forgot password” option.

Assuming Chang’s identity, the bad actors started changing all of his security settings, even using a deepfake video of the victim that captured his email ID, phone number, and even Succeeded in changing his Google Authenticator settings.

Within 24 hours of the user being notified of the change, his account lost over $2 million worth of various crypto assets.

According to Wu, OKX has responded by admitting that the user’s account has been stolen. The platform is currently helping the victim recover his account.

According to reports, the firm has also taken legal action against the attackers.

Amid this background, an X user recalled an earlier attack on the OKX wallet, in which the victim lost 50,000 Trc-20 USDT.

One before these attacks $430,000 exploit on OKX Dex. At the time, security firm SlowMist reported that the private key of the OKX DEX proxy admin owner was allegedly leaked.

The leak resulted in hackers gaining control of the protocol and allowing them to modify it with malicious functionality. This allowed them to steal funds from users who allowed the protocol to communicate with their wallets.

OKX had to cancel the contract permissions to avoid further damage.

Mainstream cryptocurrency exchanges have been a common target for attackers.

Last week, Japanese crypto exchange DMM Bitcoin was hacked. for $305 million. Previously, an Estonia-based crypto exchange CoinsPaid was hacked. For over $7 million.

With the introduction of AI-powered tools, hackers now have a powerful weapon in their arsenal. Deepfake videos are being used to deceive market participants.

Thus, there have been Industry wide concerns On the ethical implications of using AI.

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