In a recent statement, cryptocurrency exchange OKX has clarified that it is not being investigated.
This comes after Bloomberg reported that one of the world's biggest exchanges appeared in the crosshairs of EU regulators.
The probe centers around OKX's Web3 service, which was reportedly used by Bybit hackers for laundering ill-gotten funds.
The regulators are trying to figure out whether the aforementioned service falls under the Markets in Crypto Assets Regulation (MiCA) framework, which was adopted back in June. OKX could potentially face penalties for violating EU crypto rules.
However, OKX insists that its own Web3 wallet services are actually no different from those that are being offered by other industry participants.
Godfrey BenjaminOKX claims that it froze the stolen funds that were moving into the centralized exchange and developed a feature to block the addresses associated with the bad actors behind the hack.
The exchange has now accused Bybit of spreading "misinformation" among journalists.
OKX has stressed that it will continue to help Bybit to deal with the aftermath of the hack. However, the exchange has rejected the "false claims" that were allegedly made by Bybit.
As reported by U.Today, the Bybit exchange suffered a devastating $1.4 billion hack in late February.
North Korean hackers from Lazarus Group, who are believed to be responsible for the hack, have already laundered roughly $300 million worth of the stolen funds.
Dan Burgin
Vladislav Sopov