According to market news, the on-chain trading terminal DEXX was attacked, and multiple users confirmed that their funds were transferred.
The scope of this attack is not limited to the Ethereum chain, and the transferred assets are not limited to mainstream currencies.
DEXX official Twitter has released an announcement that it has indeed found that user assets have been transferred, and the audit company has intervened. More relevant information will be revealed later! But what users are currently concerned about is whether the stolen coins will be compensated!
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.
On-chain transactions have become increasingly active since 2020 and are favored by a large number of crypto users. This is mainly due to early market cultivation such as UNISWAP, AAVE, and MKR. In the past four years, on-chain transactions have been comparable to centralized exchanges!
Since issuing cryptocurrencies on the chain is much simpler and easier than listing on Binance, Europay, etc., and the earlier you discover valuable cryptocurrencies, the more you can earn. There are many cryptocurrencies that have increased by tens of thousands or even tens of millions of times, such as SHIB, BOME, PNUT, etc.
However, on-chain transactions also have disadvantages, such as high transaction slippage, expensive handling fees, etc. Therefore, DEXX claims that it has eight highlights:
Dexx's eight highlights:
Smooth operation: The user experience is extremely smooth.
Contract security detection: automatic display to ensure transaction security.
Smart Wallet Tracking: Manage your wallet assets intelligently.
Limit order function: accurately set the transaction price.
Double the option: flexible choice to maximize your profit.
Anti-pinch function: avoid transaction traps and protect user interests.
Automatically set slippage and automatically adjust Gas: intelligent trading parameter settings.
Daily hot currency zone: keep up with market trends and seize investment opportunities
With the launch of this app, coupled with the high commission rebate that DEXX offers to users who promote it, and the strong promotion by Twitter KOLs, DEXX has become popular in the cryptocurrency circle in just a few months!
Earlier, a friend of mine talked to me about this software and told me that he got a high commission by promoting DEXX. I took a look and it was indeed doing well. It was a bit like the so-called Binance on the chain. I also thought that early promotion would bring a lot of benefits. But I don’t like the atmosphere of Twitter, so I don’t like to post things on Twitter. I just happened to avoid this evil incident.
In the early morning, the DEXX rights protection group I was in was counting their stolen assets. Some group members reported that the stolen assets were about 2 million US dollars! Of course, the data is not true, everyone is just watching for fun. But it is undeniable that the number of users and the scale of assets stolen this time should be very exaggerated!
According to on-chain address tracking, most of the stolen funds were transferred to the same address:
Recall that in 2014, the world's largest Japanese cryptocurrency exchange Mt. Gox was stolen, and more than 850,000 bitcoins (the price of bitcoin was about 3,000 yuan at that time, and now the value of bitcoin is about 650,000 yuan, an increase of about 220 times) and other cryptocurrencies were hacked. It was later found that the exchange was stealing, but fortunately the Japanese government came forward to ask the exchange to return the relevant assets. But this rights protection has lasted for ten years, and it has not been resolved yet. Fortunately, the creditor, because he could not get the compensation for a long time, has benefited from the time bonus brought by the rise of Bitcoin!
Was the theft caused by the exchange itself or was it a hacker attack? Because on-chain exchanges are not like centralized exchanges such as Binance and OY that are strictly regulated, it will be very difficult to protect your rights. And a serious fact is that on-chain exchanges do not have KYC (identity authentication), and you cannot even prove from a legal perspective that the lost assets belong to you!
But there is a doubt about DEXX’s Chinese Twitter account. It joined Twitter in 2013, but the exchange was only established this year. So this account may be purchased, and it may not have been prepared for this malicious incident! Therefore, the cryptocurrency circle is often a dark forest, and you don’t know that someone is quietly setting up a trap to target your assets!
In addition to the high volatility and risks in the crypto market, there are also many hacker activities. Please be cautious in protecting your crypto assets and do not click on unknown links. Also, do not store a large amount of assets in the same address.
Since most assets are traded on the chain and not on centralized exchanges, if the hacker sells off the related tokens, their prices will inevitably plummet! Be careful with recent on-chain actions, as the main reason may be the SOL chain’s influence!
Brothers, it’s not easy to make money, so protect your assets! In the next article, we can talk about how to protect encrypted assets!
The bull is coming! Safety first!
In the past, every time Bitcoin fell, we comforted each other: Compared with the future, the current decline of Bitcoin is insignificant!
Having witnessed the changes in Bitcoin over the past 10 years, from a cyclical perspective, the rise and fall of Bitcoin is indeed like this!
I advise you not to buy Bitcoin. It’s like real estate in first-tier cities. The later you buy, the less you can afford it!
At the beginning of the month, we had already told everyone to prepare for the $80,000 Bitcoin! Now, $100,000 is coming in the blink of an eye!
It took 16 years for WEB3 to go from political hostility to political favor!
Next, the market will burst out, and hot concepts will continue. When the market heats up, the demons will dance wildly, and you may be caught off guard by the rise!
At the end of 2017, a group of 100x coins appeared. At the end of 2020 and 2023, 10x coins appeared frequently. The opportunities for encryption are about to unfold!
(This is just a sharing of opinions, not investment advice)
