SlowMist Links Over 8,620 Solana Wallets to Hack
Researchers at SlowMist have identified more than 8,620 Solana wallets that are connected with the recent DEXX hack. The initial estimate of losses was $21 million, which has now reached almost $30 million. The rise was due to the highly volatile nature of meme tokens held by the platform.
The estimated total loss is within $30 million Cos, a spokesperson at SlowMist, told. The company continues its investigation and intends to publish the list of wallet addresses next week on Ethereum, BNB Chain, and Base owned by the hacker.
DEXX Negotiates with Hacker, Begins Recovery
Since the hack, DEXX has been working around the clock to try and recover the stolen funds. It said it was “closely monitoring the hacker’s wallets” and “working with blockchain analytics firms and law enforcement to freeze the assets.
To incentivize the hacker to return the stolen funds, DEXX has offered a bug bounty and a token reward if the assets are returned within 24 hours. A similar plea was made on November 23.
“So far, we’ve tried on-chain messages and email without success”, said Bruce, DEXX’s operations director. “We are negotiating with capital, counting the total losses, and upgrading security measures to restart operations”.
While DEXX has pledged to compensate the affected users, it is contingent on the recovery of the funds.
Crypto Hacks Decline in 2024
Despite prominent incidents such as the DEXX hack, cryptocurrency-related hacks have fallen in 2024. According to a report from Immunefi, hackers stole $71 million in November, bringing the year-to-date total to $1.5 billion – down 15% from 2023.
However, scams and phishing attacks have continued to hurt the industry. A report by ScamSniffer indicated that through phishing scams targeting over 12,000 victims, $20.2 million was lost in October.
With the rise of new blockchain vulnerabilities and ever-evolving scam techniques, platforms are under pressure to strengthen security measures.
