OKX Xu Offers 10 BTC Bounty to Disprove Wallet Backdoor
OKX co-founder Star Xu has offered a 10 BTC bounty to anyone who can prove a hidden backdoor in the OKX Wallet, responding to allegations that the software exposes private keys and funds. The claim, first made by a OneKey security researcher, prompted Xu to invite experts to audit the open-source wallet code, reinforcing OKX’s security and transparency commitments. The bounty launch aligns with OKX’s CeDeFi rollout, which adds in-app DEX trading on Solana, Base and X Layer networks with zero gas fees and a centralized order book. OKX Wallet now supports login via Google, Apple and proprietary authentication, and the platform has addressed unverified scam rumors in its X Layer ecosystem. Despite past user complaints over account freezes and OKB token buyback transparency, OKX maintains a 10/10 rating on CoinGecko, processes $1.5 billion in daily trades, serves 60 million users and holds $35 billion in reserves including BTC, XRP and USDT. OKB trades near $115, down 55% from recent highs; traders will watch if it can reclaim $120 support while awaiting results of an independent security audit. The 10 BTC bounty underscores OKX’s confidence in its wallet security and its readiness to meet any backdoor claims head-on.
Neutral
In the short term, the 10 BTC bounty and proactive security stance could stabilize trader sentiment around OKX Wallet and related token OKB by demonstrating strong security practices. However, the ongoing backdoor allegations and the 55% drop in OKB price suggest lingering uncertainty. The new CeDeFi features may attract additional trading volume and support token demand over the long term, but immediate price impact is likely muted until the independent audit results are released. Therefore, the overall market outlook for OKB remains neutral, as confidence-building measures are balanced by unresolved concerns and broader market conditions.