important notes
Star Xu announced a 10 BTC reward for proof of a wallet backdoor. The OKX wallet code is publicly available on GitHub for independent auditing. The community and developers are invited to help make the platform more secure.
OKX CEO Star Xu announced a 10 Bitcoin reward to anyone who can prove there is a backdoor in the OKX wallet. The announcement on November 15, 2025 was made following the reported theft of 50 ETH, and he asked users and developers to check the security and safety of their wallets.
Star Xu invites developers to check out OKX wallet
Based on the latest information on bounty offerings, Xu reiterated that security and transparency are important and encouraged developers to audit the wallet’s code.
As of today’s market rates, a 10 BTC reward is worth approximately $963,300. OKX has published the wallet code on GitHub for anyone to verify. Xu said the challenge is open to millions of users around the world who want to check the security of the platform.
In response to recent accusations by users after 50 ETH was stolen, OKX CEO Star Xu said that 10 BTC will be given to anyone who can provide conclusive evidence proving the existence of a backdoor in the OKX wallet. He emphasized that security and transparency are fundamental.
— Wu Blockchain (@WuBlockchain) November 15, 2025
Meanwhile, market participants note that the announcement comes as cryptocurrency platforms face increasing security threats. For example, CoinSpeaker recently reported that a DeFi project’s balancer suffered a massive exploit and lost approximately $116.6 million.
Notably, some observers see this reward as a way to increase confidence in OKX while giving outside developers a chance to test the system. Xu emphasized that the proposal is not just a reaction to recent thefts, but part of a broader effort to ensure transparency.
It is worth noting that some members of the cryptocurrency community take a different view. For example, OKxiaohai posted that looking at 100 victims who had their private keys stolen, it may appear that all wallets have backdoors.
Our security efforts aim to build trust
Market participants believe that a reward of 10 Bitcoins could motivate developers and researchers to carefully check their wallets. Experts recommend a thorough review to keep the system secure, especially in light of the many new tokens and updates scheduled for November 2025.
Some added that by offering this reward, cryptocurrency exchange OKX shows it takes security seriously. The company complies with anti-money laundering regulations and international standards. Although no one has discovered any hidden backdoors so far, this challenge could be a good example of transparency in the cryptocurrency world.
It’s worth mentioning that there’s another reason why OKX has been in the news lately. Coinspeaker reported that OKX accused Binance of poaching employees. As the crypto exchange noted, nearly 100 former OKX managers have joined Binance, with salary increases ranging from 100% to 500%.
In addition to this, OKX and Standard Chartered recently started offering encryption services in Europe. This partnership will enable institutions to trade digital assets on OKX while keeping their funds securely in the bank under a MiCA license.
Notably, the 10 Bitcoin initiative shows how far OKX CEO Star Xu is willing to go to make security and safety a top priority. Market experts say OKX hopes to engage the community to further boost trust in the Web3 platform. As the investigation continues, users and developers will be watching closely to see if any issues are found.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information but should not be taken as financial or investment advice. Market conditions can change rapidly, so we recommend that you verify the information yourself and consult a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and the innovations that drive public acceptance and global integration of emerging technologies. His desire to educate people about cryptocurrencies has also inspired his contributions to popular blockchain media and sites.
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