Cryptocurrency is constantly fluctuating, only security can become the industry's firm anchor
Currently, OKX provides services and guarantees for 29 trillion US dollars of transactions for more than 50 million users worldwide. This is not just a pile of numbers, but the result of time tempering, technological innovation and responsibility. In the volatility and uncertainty of the market, every transaction and every capital flow is a further deepening of users' trust in OKX.
With frequent security incidents in the industry, how can exchanges prove the authenticity of their security commitments? Recently, OKX launched "Ouyi Protect", with the service tenet of "anytime, anywhere, dedicated service, 24/7 standby", and publicly demonstrated systematic product security mechanisms such as AI monitoring, POR, self-custody, 24/7 expert support, regulatory compliance, network defense team, feedback mechanism, etc., aiming to lead the industry's security standards while strengthening user security education, and providing more users with a safer and more transparent crypto trading environment. (Direct link: https://www.okx.com/zh-hans/protect)
Next, we will delve into some of the security mechanisms in “OKX Protect” and analyze how OKX ensures the security of users and their assets.
1. Advanced AI Monitoring
OKX has shown a significant "active" trend in the field of security protection, which deserves high attention. Unlike traditional finance, which mainly relies on post-recovery mechanisms, OKX uses advanced high-level AI monitoring systems to analyze tens of thousands of on-chain transactions per second, so as to better identify potential fraud risks in advance. For example, its unique Eagle Eye technology, as an AI-driven deep fake detection and document authentication technology, can accurately identify imposters; TARDIS uses AI and machine learning to deeply analyze user behavior and transaction sequences, greatly enhancing fraud detection capabilities; SkyNet AI model focuses on detecting on-chain scammers and fraudulent addresses, and identifies and marks malicious activities through blockchain data analysis. This outstanding ability to block risks at the source is reshaping the standard of crypto asset security protection. But the deeper revelation is that the deep integration of AI technology into the field of risk control will become a key factor in the future development of the industry.
2. 24/7 Expert Support and Cyber Defense Team
OKX is not only equipped with security experts to provide 24/7 expert support, but also has formed a world-class network defense team to fully identify and reduce various security threats and fully protect the security of user assets. The team brings together top security experts from leading global technology companies and financial institutions, and is committed to discovering and resolving potential risks in advance. To ensure the security of digital assets, OKX adopts a multi-level security strategy, including penetration testing to simulate real attack scenarios, regular security audits to strengthen system defense, and role-based access control (RBAC) to strictly manage sensitive information. In addition, OKX also conducts employee security training to reduce security risks caused by human errors, and provides 7×24 hours of manual customer service to respond to user needs at any time. With this systematic and comprehensive security protection measure, OKX fine-tunes security strategies at all levels and is committed to creating a safer trading environment for users.
3. Release POR monthly
In the field of user asset verification , OKX launched this key tool as one of the first platforms as early as 2022, and it is also the first crypto exchange in the industry to reach the second anniversary of the release of POR. In the past two years, OKX has always insisted on releasing PoR on a monthly basis, and the number of public currencies has steadily increased from the initial 3 to 22. At the same time, OKX continues to promote technological innovation, and has successively introduced cutting-edge technologies such as Merkle Tree, Full Merkle Tree, and zk-STARK to upgrade the PoR system in all aspects. In addition, OKX POR has also achieved a major breakthrough in efficiency, and the size of the proof file used for user verification has been greatly reduced from 2.55GB to 598KB. OKX has always been committed to the transparency of user assets. Under the premise of fully protecting user privacy, users can independently verify OKX's solvency at any time. This move has been highly recognized by blockchain expert Nic Carter and has been rated as representing the highest level of PoR quality of mainstream exchanges. From January 2025, the OKX POR report will be independently verified by Hacken, a world-renowned cybersecurity company. Hacken has been focusing on blockchain security since 2017 and has been committed to setting excellent security standards for the industry. This cooperation will further enhance OKX's fund transparency, provide users with a higher level of asset protection, and continue to strengthen the platform's industry-leading position in security credibility.
4. Web3 Self-Hosted Wallet
OKX Web3 wallet truly realizes "your assets are under your control" through open source code, multiple security audits and on-chain risk control system. The core code of the wallet is fully open, including key algorithms such as mnemonics, MPC and transaction routing, and actively accepts the review of the global technical community. This open initiative not only demonstrates OKX's high confidence in its own technical strength, but also uses the wisdom and strength of the community to continuously optimize security standards to ensure the security and transparency of user assets. At the same time, OKX Web3 wallet also conducts security audits regularly, and has successfully detected and intercepted 252K+ malicious domain names, 16.8M+ similar addresses, 2.04M+ high-risk tokens, and 9.57M+ high-risk transactions, protecting user assets in all aspects. In addition, the on-chain risk control system can identify and intercept suspicious DApps and high-risk tokens in real time to prevent fraud risks, while the wallet backup guide ensures the recoverability of assets, allowing users to always keep their funds safe.
5. Asset Storage & Platform Security
OKX Exchange adopts a security system that combines cold wallets and hot wallets to ensure that users' assets are stable and worry-free . Cold wallets effectively isolate network risks through offline storage, off-site encrypted backup and decentralized management; hot wallets combine semi-offline multi-signature technology, big data risk control and insurance funds to provide users with dual guarantees of efficient transactions and security protection. The real-time risk management mechanism can accurately identify abnormal transactions, ensure the stable operation of the platform, and provide additional protection for user assets even in extreme market conditions. In addition, OKX uses advanced technologies such as DDoS protection, fraud detection and blockchain monitoring to identify and prevent fraud and malicious behavior in real time. At the same time, end-to-end encryption technology ensures the security of user data, and regular automatic backups ensure that data can be restored in the event of system failure. Strict API security protocols further ensure the security of third-party integration, comprehensively protect account information from external threats, and are committed to providing users with a safe and reliable trading environment.
6. Account Protection
At OKX, account security is asset security. To ensure the safety of user funds, OKX provides multiple protection measures, including enabling two-factor authentication (2FA) to increase the account protection layer, setting anti-phishing codes to identify real emails, preventing phishing scams, managing connected devices to ensure that only authorized devices can access accounts, using strong passwords to enhance account security, and limiting fund transfers to authenticated addresses through a withdrawal address whitelist to avoid unauthorized transfers. At the same time, OKX also uses cutting-edge technologies such as Eagle Eye deep counterfeit detection technology, real-time security reminders, OCR text recognition, and intelligent risk control systems to provide users with all-round security protection. Through these measures, not only can users' assets be protected, but also users' safety awareness can be improved to further protect the safety of users' assets.
7. Security Audit
OKX regards platform security as its top priority and cooperates with industry-leading security companies such as HACKEN and SlowMist to conduct independent external audits on a regular basis to detect potential vulnerabilities and prevent various threats to ensure the security of the platform. For example, multiple modules of the OKX Web3 wallet have been audited by the third-party security agency SlowMist. Specifically, they include: AA smart contract account module, Ordinals transaction module, and private key security module. The audit reports of all modules indicate that the relevant risk items have been fixed, and the private key is only stored in the user's device and will not be sent to external servers to ensure the security of user assets and information. These audit results ensure that the OKX Web3 wallet meets high standards in terms of security and protects users' crypto assets.
8. Bug Bounties and Ethical Hacking Rewards
In terms of security system design, OKX has launched a bug bounty and ethical hacker reward program, turning potential attackers into security co-builders, breaking the traditional offense-defense opposition. This "ecological security" approach is more sustainable. At the same time, it combines the regulatory compliance framework with on-chain data analysis to innovatively build a new regulatory technology model, transforming compliance from passive compliance to active verification. Users can submit discovered service errors and security vulnerabilities, receive generous bug bounties, and work with OKX to improve wallet security.
IX. Compliance
OKX complies with local laws and regulations in each operating region to ensure the legality and security of the platform. Through on-chain monitoring, in-platform monitoring, and compliance with the Travel Rule , it effectively prevents illegal activities such as fraud and money laundering, and ensures the transaction security and asset traceability of users. At the same time, OKX reduces the risk of trading with criminals or non-compliant partners by verifying private addresses and screening third-party suppliers. The company is committed to ensuring the high security standards of the platform and trusted partnerships through strict review and audit to ensure the security of users' encrypted assets.
10. 8 safety tips + 6 types of fraud
Regarding security issues directly related to users, "Ouyi Protect" lists the six major types of fraud that users may encounter, including phishing scams, donation scams, pig-killing scams, fake exchanges, ICO scams, and Ponzi schemes, as well as eight major security tips: using a unique strong password, enabling two-factor authentication (2FA), guarding against phishing attacks, storing digital currency in a secure wallet, enabling message notifications, being wary of social engineering attacks, enabling a withdrawal whitelist, and using a pass key to protect account security . Users can click to view the details page to understand and respond to potential threats in advance. These security measures complement each other. Through a series of simple and effective operations, users can significantly improve account security and respond to increasingly complex network threats in a timely manner.
OKX has adopted a structured three-layer architecture to implement security value, including exchange system protection, wallet private key control and user security education, thus redefining the distribution of rights and responsibilities for asset security. Users have ultimate control through self-custody, while the platform assumes the responsibility of infrastructure security through advanced system protection. This system ensures all-round protection of assets and provides users with clearer security guarantees.
OKX has successfully embedded security into its product design through multi-party audits, self-custody, open source code, and bug bounty programs, creating a highly transparent and trustworthy security ecosystem. This open and transparent security mechanism not only enhances the platform's self-supervision, but also promotes the healthy development of the Web3 ecosystem and a new level of asset transparency, marking OKX's determination to lead the industry's security standards. In the rapid development of Web3, security has become the core pillar of the platform's trustworthiness.
Disclaimer
This content is for reference only and does not constitute and should not be considered as (i) investment advice or recommendation, (ii) an offer or solicitation to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of such information. Digital assets (including stablecoins and NFTs) are subject to market fluctuations, involve high risks, may depreciate in value, or even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation and risk tolerance. Please consult your legal/tax/investment professional for your specific situation. Not all products are available in all regions. For more details, please refer to the OKX Terms of Service and Risk Disclosure & Disclaimer. OKX Web3 Mobile Wallet and its derivative services are subject to separate terms of service. Please be responsible for understanding and complying with local applicable laws and regulations.
