Just a week after fending off deepfake fraudsters, OKX, the world's third-largest crypto exchange, is facing another security scare. This time, hackers are employing a more traditional, yet cunning, method: the SIM swap scam.

On June 9th, unsuspecting users received deceitful SMS notifications, seemingly originating from OKX. These messages tricked them into creating new API keys with withdrawal and trading permissions – essentially handing over the keys to their digital vaults.

The timing and tactics raise eyebrows. Security experts suspect the same culprits might be behind both the deepfake and SIM swap attacks, suggesting a coordinated effort to exploit OKX's security measures.

A Million-Dollar Question: Who's to Blame?

While the specific details of the hack remain under investigation, the question of responsibility hangs heavy. OKX has assured affected users of an ongoing investigation and even pledged to take financial responsibility, if their platform is deemed at fault.

This incident underscores the ever-present vulnerability of SMS-based two-factor authentication (2FA) in the crypto world. Similar SIM swap attacks have plagued other exchanges in the past, highlighting the need for more robust security measures.

OKX on the Defensive: Can They Regain User Trust?

With two security breaches in a row, OKX faces an uphill battle to regain user trust. The exchange boasts millions of customers and billions in trading volume, but these recent attacks expose potential weaknesses in its security infrastructure.

The crypto community is watching closely. Will OKX rise to the challenge and implement stricter security protocols? Only time will tell if they can turn the tide and prevent future digital heists.