Blockchain security firm SlowMist has identified over 8,620 Solana wallet addresses potentially tied to the recent DEXX memecoin platform exploit. The attack, which occurred on November 16, resulted in significant financial losses for at least 900 users, with the total damage now estimated at $30 million.
Thousands of Solana Wallets Behind DEXX Hack
The breach stemmed from a private key leak that allowed the attacker to redirect funds into compromised wallets. While most victims lost less than $10,000, one individual suffered a loss exceeding $1 million. Initially reported at $21 million, the total loss has since risen due to meme token price fluctuations.
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
The hacker reportedly converted DEXX stolen assets into Solana tokens, and SlowMist plans to expand its investigation by identifying suspicious wallet addresses on Ethereum, BNB Chain, and Base.
In response to the exploit, DEXX has been working to track the hacker’s wallets and freeze the stolen funds. The platform offered a bug bounty and token reward for the return of assets within 24 hours, but these efforts have so far been unsuccessful.
We have received strong support from security agencies, partners and exchanges to locate our stolen token. We are also monitoring your addresses to freeze the stolen funds in a timely manner. We ask that you resolve this incident within the next 24 hours. This will prevent us from taking any further action.
November 2024: Significant Hacks and Recoveries
A report by blockchain security firm Immunefi reveals that losses from crypto hacks in 2024 have reached $1.48 billion, representing a 15% decline compared to the $1.76 billion lost during the same period in 2023. While the decrease offers a glimmer of hope for improved security, the figure underscores the ongoing vulnerabilities in the cryptocurrency sector.
In November alone, hackers stole over $71 million in digital assets. The largest incident involved the $25.5 million Thala hack, which exploited a farming vulnerability. However, the protocol successfully recovered all stolen funds, providing a rare positive outcome in an otherwise challenging landscape.
The DEXX hack ranks as the second-largest incident in November, following the $25.5 million Thala exploit, which later saw all stolen assets recovered. November’s total crypto hack losses reached $71 million, contributing to a yearly total nearing $1.5 billion, according to Immunefi. However, this marks a 15% decrease from 2023.
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Beyond direct hacks, other methods like phishing and scams continue to claim significant losses. In October alone, phishing attacks accounted for $20.2 million in stolen funds across 12,000 victims, highlighting the persistent risks in the cryptocurrency ecosystem.