**OKX CEO Issues Public Challenge Amid 50 ETH Theft Allegation**
In response to a user’s allegation that 50 ETH had been stolen from an OKX Wallet, OKX founder and CEO Star Xu publicly challenged critics to provide proof. Xu stated that anyone who can offer “conclusive evidence” of a backdoor existing in the OKX Wallet will be rewarded with 10 BTC. He also urged the platform’s millions of users to assist in monitoring and reviewing the situation.
The claim of theft first emerged on social media when a user reported unauthorized funds being taken from their OKX Wallet. The accusation quickly caught the attention of the crypto community and security researchers alike.
**A Commitment to Openness and Accountability**
In the hours following the allegation, Xu emphasized the company’s commitment to security and transparency, describing them as the “bottom line” for OKX. He welcomed community scrutiny, framing the company’s stance as one of openness and accountability.
**Security Showdown: A 10 BTC Bounty**
The public 10 BTC reward is designed to shift the burden of proof onto those alleging a systemic vulnerability within OKX Wallet, rather than solely on the company. OKX has faced scrutiny in the past regarding wallet security and platform practices, and this move signals their willingness to let independent researchers test the claim in a public forum.
Observers on X (formerly Twitter) and other platforms are closely watching to see if anyone can produce the forensic evidence Xu has requested.
**Ongoing Investigation and Call for Information**
OKX announced that its security team is actively investigating the incident. The company has encouraged anyone with relevant information—such as transaction IDs, wallet addresses, screenshots, or forensic findings—to report them through official support channels for further examination.
Independent security researchers and on-chain analysts are expected to analyze public transaction history and the wallet’s codebase. To prove the existence of a deliberate backdoor, clear and reproducible forensic evidence would be necessary. Examples include leaked source code, anomalous on-chain signatures, or logs showing unauthorized access patterns, rather than common issues like phishing or key compromise.
**Mixed Reactions from the Crypto Community**
The broader crypto community has responded with mixed opinions. Some have praised Xu’s blunt public challenge as a positive step toward transparency. Others caution that a bounty alone cannot replace regular third-party audits, clearer disclosure practices, and improved user education about phishing and key management.
**What’s Next?**
As this situation develops, key questions remain:
– Did the alleged theft result from an exploit in the OKX Wallet code?
– Was it due to a phishing or social engineering attack targeting the user?
– Could it have been an operational lapse elsewhere?
Most importantly, can conclusive on-chain or off-chain evidence be produced?
OKX’s public challenge has simplified the path forward: produce verifiable evidence or allow the community and company to continue their investigation. The outcome will be closely watched by the crypto world as trust and security remain paramount concerns.
https://bitcoinethereumnews.com/bitcoin/okx-ceo-offers-10-btc-bounty-after-user-alleges-50-eth-stolen/
