TechFlow reports that a director of Singapore-based market maker QuantMatter posted on a social media platform stating that $11.6 million held in OKX was suddenly stolen by hackers on May 30. The funds were converted into BTC, ETH, USDC, and USDT and transferred to blockchain addresses within just 25 minutes, without any email notification or two-factor authentication.
According to Wu Shuo's report, QuantMatter stated that it had set up offline Google Authenticator (GA) protection, requiring both email and GA verification for withdrawals, with access controlled separately by the founder and partner. The breach likely occurred due to hackers using an offline GA code, suggesting that the market maker’s GA codes may have been compromised. The firm has already filed a police report in Singapore and contacted more than five security agencies for investigation.
As of now, the authenticity of this incident has not been independently verified. The exact cause of the theft remains undetermined, with neither the market maker, security agencies, nor OKX able to confirm the source of the breach, and further investigation is ongoing.
