OKX Chief Compliance Officer Jonathan Brockmeier said the recent Coldcard exploit, one of the largest bitcoin hardware-wallet thefts on record, is pushing users back toward centralized exchanges.

“We're seeing record levels of inflows now to centralized exchanges post-Coldcard,” according to Brockmeier, adding that the trend is “the flip side of FTX,” when users rushed into self-custody after the exchange collapse.

To reduce fraud-related losses, OKX says it is expanding its security stack with AI tools that monitor suspicious transfers, compromised devices, and social engineering risks before funds move.

In the first half of 2026, the exchange said it blocked $26.3 million in scam-related losses and protected more than $1.1 billion in assets for over 500,000 customers.

Galaxy Research linked the Coldcard vulnerability, disclosed last week, to thefts exceeding 1,300 BTC worth more than $80 million across thousands of addresses. Amid rising exploit activity, OKX is leaning on stronger security controls as it expands in the U.S. and Europe.