Over 8,600 Wallets Linked to $30 Million Solana Theft

Crypto News Exploits

DEXX Hack Breakdown: $30 Million Stolen, 8,612 Solana Wallets Compromised

Written by Aaron S.,

Editor-In-Chief

Last Updated: November 29, 2024

Key Takeaways

Over 8,600 Solana wallets linked to a DEXX hack, with losses possibly reaching $30M after a private key leak impacted 900 users;
The platform is pursuing legal action, working with security firms, and promising compensation for affected users;
DEXX monitors hacker wallets, offering rewards for returned funds, while stolen assets are being converted into Solana.

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DEXX Hack Breakdown: $30 Million Stolen, 8,612 Solana Wallets Compromised

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The memecoin trading platform DEXX has fallen victim to a major security breach, with 8,612 Solana SOL $135.97 wallets now suspected of being connected to the hacker behind the attack.

The breach occurred on November 16, compromising more than 900 users due to a private key leak. While the majority of those affected lost under $10,000, one user suffered a loss of over $1 million.

Initially, the total financial damage was estimated at $21 million, ranking it as November's second-largest hack after the $25.5 million Thala breach, which successfully recovered all stolen assets. However, the total losses could now be as high as $30 million.

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DEXX has been actively monitoring the attacker’s accounts and attempting to freeze the illicit funds. The platform issued statements on social media, offering a token reward and bug bounty for the return of the assets within a 24-hour.

However, the hacker hasn't been idle either, converting the stolen assets into Solana.

In response to the attack, DEXX has pursued a legal action and teamed up with a crypto security firm and police. They also promised to reimburse the victims.

DEXX posted on X, stating:

DEXX has officially filed a case, and SlowMist has been actively assisting law enforcement in the subsequent investigation. At the same time, DEXX is actively discussing a compensation plan.

Cybercrime continues to plague the crypto sector, with every incident revealing new vulnerabilities. Recently, XT.com faced a $1.7 million hack, leaving users questioning their safety. What steps is XT.com taking to reassure its users? Read the full story.