Experts from SlowMist revealed details of the hacker attack on DEXX
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Johny Smith
2025/01/04
3 mins read
The SlowMist research team has shared an update on the recent attack on the DEXX platform. The hacker managed to withdraw approximately $18.8 million in assets using the Solana and Ethereum blockchains to cover his tracks. Researchers studied the actions of a cybercriminal.
They noted that the stolen funds were distributed to several addresses on the Solana network, including the main 4smi…CHLd, where $1.46 million is now located. After that, part of the funds was transferred to wrapped ether – WETH – and moved to the Ethereum network through the Wormhole bridge. The researchers recorded balances of 4,400.74 ETH (worth about $17.25 million) on Ethereum addresses.
It is worth noting that the DEXX platform was previously subject to a major attack, during which attackers exploited a vulnerability in the smart contract. This allowed them to withdraw significant amounts of digital assets, despite the site team’s attempts to freeze cryptocurrencies.
SlowMist continues to monitor the movement of funds. Experts warn that the withdrawal of assets through multi-chain protocols is becoming the new norm for hackers. Analysts recommend that platform teams strengthen the security of bridges and smart contracts. The DEXX case also raises questions about the weaknesses of decentralized platforms. Despite the advantages of such exchanges, the lack of central control makes it difficult to quickly respond to attacks. As a result, users are left without funds, and investigations take time.
Experts urge investors to exercise caution. It’s especially worth checking exactly how secure the platforms they interact with are. Companies should openly share information about their security measures and respond to such incidents. The situation with DEXX shows that risks in the crypto industry remain high. Platforms need to find a balance between customer convenience and increased security.
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