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OKX CEO Offers 10 BTC Bounty for Wallet Backdoor Evidence

OKX CEO Offers 10 BTC Bounty for Wallet Backdoor Evidence

OKX CEO Star denies allegations of a wallet backdoor, highlighting open-source security measures and unveiling a new CeDeFi Wallet with enhanced features.

BTC

Fact Check
The evidence provided strongly and consistently supports the statement. Five of the six sources, including a high-authority mainstream financial news outlet (Yahoo Finance), directly report that the CEO of OKX, Star Xu, offered a bounty of 10 Bitcoin. The purpose of this bounty is consistently described as a reward for anyone who could provide solid proof of a backdoor or a significant security vulnerability in the OKX Wallet. The reports are aligned on the key details: the individual making the offer (Star Xu), the specific amount (10 BTC), and the context of defending the wallet's security against accusations. There is no contradictory evidence presented; the single source that does not mention the bounty is of low relevance as its topic is a general comparison of exchanges, not a specific news event. The high degree of corroboration across multiple independent sources, including a credible financial news platform, makes the statement highly probable.
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Summary

In an official statement, OKX CEO Star refuted claims of a backdoor in the OKX Wallet, affirming that its private key module and smart contracts are fully open source. He confirmed that the old MPC wallet has been discontinued and replaced by a new CeDeFi Wallet with improved capabilities. The ongoing 10 Bitcoin bounty remains in place for anyone able to provide verifiable proof of a wallet backdoor, underscoring the firm's commitment to transparency and security.

Terms & Concepts
  • OKX Wallet: A digital cryptocurrency wallet offered by OKX allowing users to store, send, and receive digital assets.
  • Backdoor: A hidden method of bypassing normal authentication in software, often used maliciously to gain unauthorized access.
  • CeDeFi Wallet: A hybrid wallet combining centralized finance (CeFi) oversight with decentralized finance (DeFi) features, aiming to enhance usability and security.