Losses from DEXX Hack Escalate to $30 Million

Experts at SlowMist have tracked over 8,620 Solana addresses, allegedly linked to the hacker who attacked the DEXX meme-coin trading terminal.

After several days of careful data collection and analysis by our team, we are now making the list of hacker addresses public. https://t.co/adMTiBkeyS https://t.co/D0pVQzcbNQ pic.twitter.com/p7jlKawuZM

— MistTrack?️ (@MistTrack_io) November 28, 2024

On November 16, the platform suffered an exploit affecting at least 900 users. Most victims lost up to $1,000, but one account was deprived of assets worth over $1 million.

Initial reports indicated total damages of $21 million, making the incident the second-largest in November after the $25.5 million hack of the DeFi protocol Thala.

As of November 29, cumulative losses for DEXX have risen to $30 million, according to Cointelegraph, citing SlowMist founder known as Cos. The expert explained this is due to significant fluctuations in meme-coin prices.

Previously, SlowMist specialists recorded the hacker converting coins on Solana. According to Cos, they also plan to soon publish suspicious addresses on Ethereum, BNB Chain, and Base.

Following the attack, the DEXX team offered the hacker a reward through social media for returning the tokens. Developers warned they are tracking the funds to freeze them and have contacted law enforcement.

A platform representative admitted they continue attempts to contact the hacker, but he remains unresponsive. 

The DEXX team is negotiating funding to compensate users and is addressing security issues for the terminal’s relaunch. However, the compensation amount will depend on the value of the funds they manage to recover, acknowledged the platform manager.

According to an Immunefi report, the crypto industry lost approximately $71 million in November due to 26 incidents, all involving DeFi projects.

Nearly all the damage was caused by hacking attacks — $70.99 million across 24 cases. Two rug pull schemes accounted for just $25,300.

According to PeckShield, on November 28, the centralized exchange XT lost $1.7 million as a result. The platform team confirmed an unauthorized transaction. The incident was not included in Immunefi’s statistics.