Key Notes
- Star Xu announces a 10 BTC reward for evidence of wallet backdoors.
- OKX Wallet code is open on GitHub for independent audits.
- Community and developers are invited to strengthen platform security.
OKX CEO Star Xu has announced a reward of 10 Bitcoin for anyone who can prove there is a backdoor in the OKX Wallet. The announcement on November 15, 2025, comes after a reported theft of 50 ETH, prompting him to ask users and developers to check the wallet for security and safety.
Star Xu Invites Developers to Check OKX Wallet
Based on the update on the bounty offering, Xu reiterated that security and transparency are important and encouraged developers to audit the wallet’s code.
As of today’s market rate, the 10 BTC reward is worth about $963,300. OKX has made the wallet code available on GitHub, allowing anyone to examine it. Xu says the challenge is open to millions of users worldwide who want to check the platform’s security.
In response to a recent accusation by a user after 50 ETH was stolen, OKX CEO Star Xu stated that anyone who can provide conclusive evidence proving a backdoor exists in OKX Wallet will be rewarded with 10 BTC. He emphasized that security and transparency are fundamental, and…
— Wu Blockchain (@WuBlockchain) November 15, 2025
Meanwhile, market participants note that the announcement comes as crypto platforms face increased security threats. For example, Coinspeaker recently reported that the DeFi project Balancer suffered a major exploit, losing about $116.6 million.
Notably, some observers see the reward as a way to increase trust in OKX while giving outside developers a chance to test the system. Xu emphasizes that the offer is part of a wider effort to be transparent, not just a reaction to the recent theft.
It is worth noting that some members of the crypto community have offered other views. For example, OKxiaohai posted that if one looks at 100 victims whose private keys were stolen, all wallets might appear to have backdoors.
Security Efforts Aim to Build Confidence
Market participants believe that the 10 Bitcoin reward could motivate developers and researchers to check the wallet carefully. Experts recommend thorough reviews to keep the system safe, especially with many new tokens and updates coming in November 2025.
Some added that by offering this reward, crypto exchange OKX is showing that it takes security seriously. The company follows anti-money laundering rules and international standards. No one has found a hidden backdoor so far, but the challenge could set a good example for transparency in the crypto world.
It is worth mentioning that OKX has been in the news recently for other reasons. Coinspeaker reported that OKX accused Binance of poaching employees. As noted by the crypto exchange, nearly 100 former OKX managers joined Binance, with pay increases ranging from 100% to 500%.
In addition to this, OKX and Standard Chartered have recently started offering crypto services in Europe. With this partnership, institutions can trade digital assets on OKX while keeping their funds safely stored with 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 priority. Market experts think OKX wants to involve the community to build more trust in Web3 platforms. As the investigation continues, users and developers will be watching closely to see if any problems are found.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
