OKX Swiftly Addresses Essential Safety Flaw in its iOS App After CertiK’s Warning – Investorempires.com

Distinguished blockchain safety firm – CertiK – issued a warning to OKX customers to replace their iOS app to the newest model after detecting a vulnerability in it.

In response to the replace posted on X (previously Twitter), CertiK first found and reported a extreme Distant Code Execution (RCE) vulnerability within the OKX iOS App earlier this month.

Utilizing the outdated model posed a danger of “potential compromise of sensitive data and crypto assets,” the agency famous whereas including that OKX promptly addressed the difficulty by releasing an up to date model.

“For anyone in doubt of the impact of the risk, we have hard evidence showing that – the vulnerability allows an attacker to fully control the OKX iOS App. You are at high risk of losing your assets if you insist on using an older version.”

OKX Resolves Vulnerability in New Replace

Whereas addressing the vulnerability in its iOS pockets app flagged by CertiK, OKX confirmed finishing up the related replace to repair it.

On its Chinese language social media web page, the crypto trade stated the bug impacted a third-party utility service supplier and guaranteed customers that no belongings have been misplaced.

OKX asserted that the bug didn’t pose a menace to the safety of consumer belongings whereas urging customers to promptly replace their iOS app to model 6.45.0, the place the vulnerability has been efficiently resolved.

“After verification by the platform, no loss of assets or information was found. Currently, this problem has been fixed in IOS version 6.45.0. It is recommended that you complete the APP update as soon as possible. Please rest assured that the security of your assets will not be affected.”

Unhealthy Actors at Play

The vulnerability recognized by CertiK within the OKX pockets didn’t lead to any funds being stolen from customers, because it was swiftly addressed. Nonetheless, such incidents are fairly uncommon, as seen within the rising pattern of hackers concentrating on crypto wallets and exchanges in latest months.

As reported earlier, unhealthy actors stole almost $363 million price of digital belongings in November alone, with Poloniex main the listing with a $114 million loss, adopted by a $100 million theft at HTX (previously Huobi) and cross-chain bridge Heco.

Zooming out, the crypto trade skilled a decline within the quantity of hacks in 2023, witnessing a discount of over 50% in comparison with the earlier yr, in line with a report by TRM Labs.

The analysis highlighted that improved safety measures, legislation enforcement actions, and larger trade coordination with exchanges, pockets suppliers, and blockchain networks have all contributed to the decline in hack volumes.