Security experts at SlowMist have traced over 8,620 Solana wallets connected to the DEXX hack, with losses nearing $30 million as recovery efforts persist.
SlowMist, a crypto-security firm, has published a document that identifies over 8,620 Solana addresses that are suspected to be associated with the DEXX criminal.
DEXX, a memecoin trading terminal, was the victim of a security exploit on November 16, which resulted in losses for at least 900 unique users.
MistTrack reports that the majority of victims suffered losses of less than $10,000 as a result of a private key disclosure; however, one individual lost over $1 million.
Initially, the incident was reported to have resulted in a total loss of $21 million, making it the second-largest breach in November, following the $25.5 million Thala hack.
However, Thala later recovered all of the lost assets.
Cos, the proprietor of SlowMist, informed Cointelegraph that DEXX’s total loss has increased as of November 29.
“The total loss is anticipated to be within the range of $30 million,” Cos stated that the aggregate loss is significantly influenced by the price fluctuation of meme tokens.
The perpetrator was observed converting the assets into Solana Wallets.
Cos stated that SlowMist plans to publish additional dubious wallet addresses on Ethereum, BNB Chain, and Base “next week.”
DEXX Endeavors To Negotiate With Intruder To Facilitate Recovery Process
DEXX issued a statement on social media following the attack, verifying that it was monitoring the hacker’s wallets and working to freeze the funds.
In addition, the platform provided a bug bounty and token reward for the return of misappropriated assets within 24 hours. On November 23, a comparable appeal was formulated.
“We have attempted to leave messages on the chain and send an email thus far.”
However, the perpetrator did not respond. Simultaneously, we are engaged in negotiations with the capital, calculating the amount, and addressing security concerns to reactivate DEXX.
During an interview with Cointelegraph, the operations director at DEXX, “Bruce,” expressed his desire for our series of actions to provide our users with the maximum amount of compensation.
DEXX has pledged to compensate users who have been impacted by the attack and has collaborated with SlowMist and law enforcement to investigate the incident.
Nevertheless, the compensation plan will be contingent upon the amount of funds that are recouped.
Decrease In Total Number Of Breaches That Occur Annually
According to a recent report by security firm Immunefi, hackers stole $71 million in November, raising the annual total to nearly $1.5 billion with one month remaining in 2024.
At present, this represents a 15% decrease from 2023, despite significant incidents such as the $305 million loss at Japan’s DMM Bitcoin exchange and the $235 loss at India’s WazirX.
Illicit actors employ a variety of methods to steal cryptocurrency, such as phishing scams that allow malicious draining software to access victims’ wallets and pig-butchering scams that are purportedly operating from Southeast Asian centers.
In October, phishing schemes resulted in the loss of $20.2 million among 12,000 victims, as reported by ScamSniffer.
