OKX CEO Defends Exchange Amid Justin Sun Freeze Dispute
By: crypto news|2025/05/04 09:45:01
0
Share
OKX CEO Star Xu has responded to accusations from Tron founder Justin Sun, who claimed the exchange failed to act on a law enforcement request to freeze stolen funds linked to a hack of Tron’s official X account.Sun alleged that OKX ignored a “freeze notice” from law enforcement following the May 3 breach, during which Tron’s X account was compromised.The attacker reportedly posted a malicious smart contract address, sent direct messages, and engaged with unfamiliar accounts.Justin Sun Says OKX Ignored Freeze RequestIn a now-deleted post, Sun stated that the exchange had been contacted via official email but had not responded, leaving him with “no other way” to reach OKX’s compliance team.“These stolen funds do not belong to me; I’m acting to protect the community,” Sun claimed.Star Xu dismissed the allegations. “OKX has a consumer protection policy governed by law,” Xu wrote on X.“We can’t freeze a customer’s funds based on your personal X post or oral communication. As the CEO of HTX, I think you should understand this.”Dear Mr H.E. Justin Sun, our LE cooperation team just checked the email including spam box, we haven’t received any request related with this case. Can you give us the screenshot to show when the enforcement agency send the request to us? @justinsuntron https://t.co/QIPFUbOqbi pic.twitter.com/lkHZWvk6fm— Star (@star_okx) May 3, 2025Xu added that OKX’s law enforcement (LE) cooperation team reviewed its email accounts, including spam folders, and found no official request related to the case.“Our LE cooperation team just checked the email, including the spam box; we haven’t received any request related with this case,” he said.Xu also posted a screenshot of Sun’s original deleted message and challenged him to share evidence of the alleged freeze notice, including the time and source of the request.The incident adds to a growing list of social media hacks in the crypto space.On March 15, Yu Hu, founder of crypto AI platform Kaito, had his account hijacked to spread false warnings about compromised wallets—shortly after attackers opened a short position in KAITO tokens.Similarly, on Feb. 26, the Pump.fun X account was compromised to promote a fake governance token.In another instance, UK MP Lucy Powell’s X account was hacked on April 15 to promote a scam token.Crypto Hacks Surge in 2025 as Losses Top $1.74 Billion in Four MonthsHackers stole over $92.4 million from crypto projects in April 2025 alone, according to blockchain security firm Immunefi.The figure represents a 27.3% year-over-year increase and more than double the losses reported in March.April’s attacks occurred across 15 incidents, with two major exploits accounting for the bulk of the damage.UPCX, an open-source platform, lost $70 million in a single attack, while decentralized exchange KiloEx was hit for $7.5 million.Other affected projects included Loopscale, ZKsync, Term Labs, and Bitcoin Mission, each experiencing losses exceeding $1 million.Cumulatively, the first four months of 2025 have already seen $1.74 billion in crypto losses—more than all of 2024, which totaled $1.49 billion.Immunefi previously noted that Q1 2025 was the worst quarter for hacks in crypto history, driven largely by massive breaches of centralized exchanges Phemex and Bybit.The post OKX CEO Defends Exchange Amid Justin Sun Freeze Dispute appeared first on Cryptonews.
You may also like
Do you want to buy CRCL?
A detailed breakdown of Circle's business fundamentals and valuation logic: The panic over OUSD and the market correction have triggered a short-term mispricing, presenting an opportunity for left-side positioning and legislative speculation below $60.
Wosh: Inflation has cooled in recent weeks, AI is reshaping the economy, and forward guidance has lost its necessity
Federal Reserve Chairman Waller clearly stated at the ECB forum that the Fed will abandon forward guidance on interest rates, with future decisions relying entirely on real-time economic data. He noted that inflation risks in the U.S. have decreased over the past four weeks, but the ultimate impact ...
The most secretive AI winner
A century-old company that sells toilets and produces MSG has seen its stock price soar by "positioning" core materials for AI chips. This article clarifies the explosive opportunities for domestic substitution of semiconductor materials in the A-share market.
Looking at Stripe's ambitions and the future of stablecoins from OUSD
Stripe enters the stablecoin network battle with OUSD, a comprehensive look at the third paradigm evolution of digital dollars and the new infrastructure for global payments in the AI era.
From Pump.fun to Collector Crypt: Has Solana's income throne changed hands?
The revenue from consumer applications on Solana is no longer solely reliant on meme coin issuance, but is gradually spreading to more consumption scenarios.
Dan Bin's latest speech: Don't miss out on a great era
Don't let hesitation trap your steps, and don't let shortsightedness waste the passing years—make sure not to miss this magnificent era that belongs to us.
Robinhood launches its own blockchain, no longer wanting to be a tenant on others' chains
While laying off employees and issuing bonds, it is the predictive market business that temporarily supports the income.
Why Tokenized Stocks Are Booming in 2026 While Crypto Is Still Struggling
Why are tokenized stocks booming while the crypto market struggles? Explore the latest 2026 data, institutional adoption, and what it means for traders.
Former ByteDance employee's account: How I started with two Pinduoduo hard drives and made six times the profit with Seagate to achieve financial freedom?
A programmer from a big tech company bought hard drives on Pinduoduo and, following clues, managed to accurately capture the sixfold rising stock Seagate using the "finding daily anomalies + 13F institutional verification" framework, making a wild profit of $400,000 and achieving financial freedom.
MiCA reshuffle begins, Binance temporarily bids farewell to the EU
What Binance leaves behind is not scattered retail investors, but a whole batch of high-value users who are forced to liquidate and have almost nowhere to go.
How does Gate redo "buying and selling stocks" from the cryptocurrency world to the stock market?
The competition logic of exchanges has changed.
Visa and Mastercard join 140 giants to launch a new stablecoin, but the impact on the market landscape may still be limited
As an important milestone event in the stablecoin landscape, OUSD is likely to change the existing stablecoin landscape and significantly increase the adoption rate of stablecoins in the global financial system.
Circle CEO responds to OUSD's challenge: Stablecoins are a winner-takes-all business, and we will not slow down
OUSD was jointly launched by more than 140 giants, causing Circle's stock price to plummet in a single day. Circle's CEO personally wrote a response, clarifying USDC's moat from three aspects: network effects, liquidity, and regulation, and dismantling OUSD's three selling points of "free redemption...
Argentina vs Cape Verde: When a Record-Breaking Legend Meets an Unbreakable Underdog
WEEX exclusive pre-match analysis of Argentina vs Cape Verde, exploring Messi-led Argentina’s dominance and Cape Verde’s historic defensive breakout, with a breakdown of volatility, structure, and match dynamics.
WEEX Launches Depth Chart for Spot Trading
WEEX Spot now supports Depth Chart, helping users visualize buy and sell orders, spot liquidity walls, and understand market depth more clearly before placing trades.
Raising interest rates to protect STRC and selling coins to maintain credit, this time the strategy has chosen the two most expensive paths
The rebound in BTC prices can make all problems simple.
Morning Report | Samsung announces a 265.5 trillion won investment plan, focusing on semiconductor and AI computing power data centers; Vitalik publishes an article detailing the entire technology tree behind the confusion protocol (iO) mainline
Overview of Important Market Events on June 29
In the era of AI, what is left of Bitcoin?
AI can generate a fake image, create a fake video, and even forge a person's voice. But it cannot make the entire Bitcoin network acknowledge a non-existent transaction out of thin air.
Do you want to buy CRCL?
A detailed breakdown of Circle's business fundamentals and valuation logic: The panic over OUSD and the market correction have triggered a short-term mispricing, presenting an opportunity for left-side positioning and legislative speculation below $60.
Wosh: Inflation has cooled in recent weeks, AI is reshaping the economy, and forward guidance has lost its necessity
Federal Reserve Chairman Waller clearly stated at the ECB forum that the Fed will abandon forward guidance on interest rates, with future decisions relying entirely on real-time economic data. He noted that inflation risks in the U.S. have decreased over the past four weeks, but the ultimate impact ...
The most secretive AI winner
A century-old company that sells toilets and produces MSG has seen its stock price soar by "positioning" core materials for AI chips. This article clarifies the explosive opportunities for domestic substitution of semiconductor materials in the A-share market.
Looking at Stripe's ambitions and the future of stablecoins from OUSD
Stripe enters the stablecoin network battle with OUSD, a comprehensive look at the third paradigm evolution of digital dollars and the new infrastructure for global payments in the AI era.
From Pump.fun to Collector Crypt: Has Solana's income throne changed hands?
The revenue from consumer applications on Solana is no longer solely reliant on meme coin issuance, but is gradually spreading to more consumption scenarios.
Dan Bin's latest speech: Don't miss out on a great era
Don't let hesitation trap your steps, and don't let shortsightedness waste the passing years—make sure not to miss this magnificent era that belongs to us.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com
