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Security experts at SlowMist identified over 8,620 Solana wallets linked to the DEXX hack, with losses estimated near $30 million as recovery efforts continue.
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Crypto security firm SlowMist has released a document identifying more than 8,620 Solana addresses suspected of being linked to the DEXX hacker.
On Nov. 16, memecoin trading terminal DEXX fell victim to a security exploit, resulting in losses impacting at least 900 unique users.
According to MistTrack, most victims losing under $10,000 were due to a private key leak, with one individual losing over $1 million.
Over 8,600 suspicious wallets were identified on Solana. Source: MistTrack
The total loss from the incident was initially reported at $21 million as the second-largest hack in November, behind the $25.5 million Thala hack, though Thala recovered all lost assets.
As of Nov. 29, DEXX’s total loss has risen, SlowMist founder Cos told Cointelegraph.
“The total loss is estimated to be within $30 million. The price fluctuation of meme tokens has a significant impact on the overall loss,” Cos said.
Related: Crypto hackers steal $71M in November, bringing yearly total to $1.48B
The hacker was seen converting the assets into Solana (SOL).
Cos said that SlowMist intends to publish additional suspicious wallet addresses on Ethereum, BNB Chain and Base “next week.”
DEXX attempts to negotiate with hacker in recovery efforts
Following the attack, DEXX issued a statement on social media, confirming it was monitoring the hacker’s wallets and working to freeze the funds.
DEXX offers hacker bounty and tokens in return for stolen funds. (DEXX)
The platform also offered a bug bounty and token reward if the stolen assets were returned within 24 hours. A similar plea was made on Nov. 23.
“So far, we have tried to leave messages on the chain and leave an email. But the hacker didn’t reply. At the same time, we are actively negotiating with the capital, counting the amount, and upgrading security issues to restart DEXX. I hope that our series of actions can compensate our users as much as possible,” “Bruce”, operations director at DEXX told Cointelegraph.
DEXX has partnered with SlowMist and law enforcement to investigate the attack and has committed to compensating affected users. However, the compensation plan will depend on the extent of recovered funds.
Related: Crypto drainers are retiring as investigators start to close in
A drop in total yearly hacks
Hackers have stolen $71 million in the month of November, according to a recent report by security firm Immunefi, bringing the annual total closer to $1.5 billion for the year’s total with a month left in 2024.
So far, that’s a 15% drop from 2023, despite major incidents like the $305 million lost in Japan’s DMM Bitcoin exchange and $235 from India’s WazirX.
Illicit actors use various means to steal crypto other than hacks, including the pig butchering scams allegedly running from Southeast Asian scam hubs, or phishing scams where malicious draining softwares gain access to victim wallets.
According to ScamSniffer, $20.2 million were lost to phishing scams in October between 12,000 victims. The value lost dropped 56% though victims rose by 20%.
Magazine: Fake Rabby Wallet scam linked to Dubai crypto CEO and many more victims
This article first appeared at Cointelegraph.com News
