Author | Asher, Odaily Planet Daily
This morning, members of the major Meme communities, who were supposed to have finished their busy "dog-beating" work all night, were instantly blown away by a piece of news. The on-chain transaction terminal DEXX was attacked, and many users confirmed that their funds were transferred. The scope of this attack involved multiple chains, and the types of asset tokens transferred were also extremely large. Multiple meme coins were sold off and fell rapidly in a short period of time.
Dexx is a full-chain Memecoin trading platform that supports multiple on-chain assets such as SOL, ETH, TRX, BASE, BSC, etc. It mainly promotes its functions such as on-chain mobile stop-profit and stop-loss, hot concept push, smart wallet tracking push, doubling of capital, one-click anti-pinch, and one-click buy and sell.
Regarding the theft of DEXX user funds, SlowMist founder Yu Xian posted on the X platform that the victims were related to those who used DEXX to make money/speculate MEME. The private key was centrally managed by DEXX and must have been leaked. As for the method of leakage, it will be disclosed in the investigation. For a time, major Meme communities were full of abuse:
"I was woken up in the middle of the night and found that $20,000 had been stolen from DEXX. All my hard work for a month was wasted. I will never touch this kind of centralized wallet again."
"I'm speechless. I just registered and transferred 100 SOLs, but they were stolen. No wonder so many KOLs recommend it";
"I cleared all my Meme positions. This time many wallets were stolen. Hackers will dump the stolen coins. After fermentation, all Meme positions may be dumped and collapsed."
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Large number of people and large amount of money stolen
Since there were many users who were stolen, a "rights protection group" was established immediately and began to register stolen information. The following figure shows the stolen funds record (since it was reported by the stolen users themselves, only part of the data has been confirmed to be true). At the same time, SlowMist founder Yu Xian also posted: "Based on the data submitted by community users, we calculated that the loss of DEXX theft amounted to millions of dollars, and these funds are currently scattered in multiple different hacker addresses."
There are also other community users who have counted the total amount to exceed tens of millions or even over 100 million US dollars. Since the statistics of all addresses have not yet been completed, the stolen amount cannot be finally determined. However, from the feedback of community users, it can be seen that many users have lost tens of thousands or even hundreds of thousands of dollars.
Screenshot of some stolen user registration information in the DEXX rights protection group (names have been censored)
DEXX officially responded that there was no RUG, and suspicions of embezzlement arose
After the theft, DEXX Chinese official responded on the X platform: "Currently, DEXX has noticed the problem of tokens being transferred away as reported by many users, and several professional security audit teams have begun to analyze and investigate. The team is working hard to solve it, and there is no Rug. Subsequent progress will be synchronized with everyone through the site push and X/Telegram notification as soon as possible."
DEXX Chinese official responds to large-scale user theft incident
The personal information of the founder of DEXX was also exposed. DEXX founder Roy (@honza204) later responded to the theft and said: "We will pay to make up for it. Some users have been quarantined. There is no RUG. We are investigating. We cannot reply one by one. Don't worry."
DEXX founder responds to large-scale user theft
However, there has been no follow-up to this reply so far, and users are not buying it, questioning whether DEXX is deliberately running away and stealing from the company.
DEXX has not been popular for long in this round of Meme craze, and it mainly relies on KOL promotion to quickly acquire users. According to KOL’s disclosure to Odaily, the current Bot offers very high rebates to quickly acquire users, with the highest even reaching 50%-60% of the handling fee. With the current frequent Golden Dogs, such income is quite considerable.
After the DEXX incident, many KOLs who had previously promoted DEXX crazily and described it as "Binance on the chain" began to quickly delete posts and cut ties with it. The one who received the most complaints from netizens was the X KOL Youmin @youmin8341 who had previously posted a sky-high rebate.
After the incident, Youmi immediately tweeted @DEXX founder and said that he had never withdrawn his commissions. Netizens lined up to mock him, saying "Two sticks broke up the brotherhood, and the transcripts were all brothers' names."
Safety Tips
Meme is undoubtedly the hottest sector with the most opportunities to make money in this bull market. On-chain operations and the use of various BOTs have become a daily habit for users. The "DEXX was attacked and user funds were stolen" incident should also sound the alarm for the industry. To avoid similar incidents such as "Sol earned from months of hard work is actually working for hackers", Odaily Planet Daily has also compiled some security suggestions, hoping that everyone must be cautious about the security of on-chain assets:
Do not trust others' recommendations easily, study the product mechanism carefully, and it is recommended to use a BOT whose private key is not stored on the server;
Choose a BOT that has been in operation for a long time, has a strong team, and has no record of safety accidents;
Do not click on unfamiliar links in the TG group and do not reply to any private messages;
Regardless of the tool you use, it is recommended that you withdraw large amounts of funds to a self-hosted wallet after completing the transaction.
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Bananagun, Unibot and others have all experienced thefts before, and DEXX will not be the last.
Remember, when walking in the dark forest of Web3, only those who survive until tomorrow have a chance.
