OKX Warns of ‘Bom’ Mining Software Theft

 
Ritu Lavania
Written By 
Ritu Lavania
 
Harsh Chauhan
Edited by 
Harsh Chauhan
February 20, 2025

Leading crypto firm, OKX has issued a warning after receiving numerous reports from s about suspicious activity related to a mining software called ‘Bom’. 

OKX Warns over Wool-Pulling and Theft Linked to ‘Bom’

The OKX Web3 security team revealed that it conducted interviews with affected s and discovered that the software was responsible for ing s’ photo albums, suggesting malicious intent.

The exchange has cautioned s to avoid ing software from untrusted sources, including so-called “wool-pulling tools.” OKX also reminded s to securely store their mnemonic phrases and avoid taking photos or screenshots of them. According to its X post, The OKX wallet mobile app has already implemented measures to block such actions. s are advised to stay vigilant and transfer assets away from potentially risky addresses.

The warning comes after a report from blockchain security firm SlowMist, where founder Cos disclosed a theft of approximately $1.24 million.

Cos revealed that the firm had received additional this morning regarding a group theft incident, though the specific company affected remains unclear. The theft is suspected to have stemmed from a previous security breach, with assets distributed across multiple platforms, including over a dozen EVM chains and involving at least 800 tokens. Many of these stolen assets appear to be linked to “wool-pulling” schemes.

Also Read: Sui Network and OKX Wallet Partner for Enhanced Security

What is Wool-Pulling?

For the uninitiated, wool-pulling is a kind of social engineering tactic. It typically involves misleading people into ing a scheme or ing malicious software by offering something that appears legitimate or promising (like easy profits, mining software, or free tokens). Once the victim is hooked, their funds are often stolen or compromised.

Also Read: Vietnam Cracks Down on Crypto Mining Scam Group Targeting 200 Victims

 

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Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. ionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.