tl;dr
OKX has experienced significant outflows, with $204 million withdrawn in the past 24 hours and $630 million in the past week, surpassing outflows of other prominent cryptocurrency exchanges. The surge in withdrawals is due to security controversies, including a vulnerability in the exchange’s two-fa...
OKX has experienced significant outflows, with $204 million withdrawn in the past 24 hours and $630 million in the past week, surpassing the outflows of other prominent cryptocurrency exchanges. The surge in withdrawals comes from multiple security controversies that may have undermined user confidence.
On June 9, two OKX users lost a significant amount of funds in a suspected SIM-swapping attack due to a vulnerability in the exchange’s two-factor authentication (2FA) security system, which resulted in their accounts being compromised.
Security analysts found that despite users binding their accounts to Google Authenticator (GA) for higher security, OKX allows customers to switch to lower security verification methods during sensitive operations, bypassing GA verification.
OKX's security settings lack a baseline design and have made several compromises likely to enhance user experience. In response to these incidents, OKX has initiated an investigation and reached out to affected users, urging them to enable two-factor authentication to enhance security.
Despite these efforts, the recurring security issue has resulted in a wave of withdrawals as users seek safer alternatives.
More about C3 Ai Inc
Stock Market Analysis: C3 Ai Inc (C3) C3 Ai Inc (C3) Stock Analysis Summary
Company: C3 Ai Inc
Sector: Technology
Industry: Services-Prepackaged Software
Market Cap: $3,879,420,000
Dividend Yield: None
EPS: -2.34
P/E Ratio: 2.602
ROE: -0.901
Volume: 310,582,000
Stock Price: $29.35
52-Week Change: 0
RSI: 0.196