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Did the DEXX attacker plan this for a long time? The DEXX incident occurred due to improper private key management by the project party!

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ChainCatcher message, Slow Mist founder Yu Chuan posted an update on the DEXX incident on social media, stating that Slow Mist has received nearly 500 requests related to the theft of DEXX, and the incident analysis is still ongoing. The preliminary judgment is that the loss has reached the level of tens of millions of US dollars (because the price fluctuation of some Meme coins is too large), the attacker's address corresponding to almost every victim is different, indicating that the attacker of this incident has been premeditated for a long time, and the gas source is XMR exchanged 3 days ago.

DEXX Platform Response

DEXX founder Roy (@honza204) quickly responded to this theft incident. He spoke out on the social platform X, saying that he would pay to compensate users for their losses, and has already taken measures to isolate some users to prevent further losses.

At the same time, he clearly emphasized that the platform does not have a rug situation, and is currently doing its best to investigate the problem, but due to the complexity of the situation, it is unable to reply to each user one by one, but hopes that everyone can rest assured.

CertiK: The Cause of the DEXX Incident is the Improper Management of the Project's Private Key

Blockchain security audit company CertiK issued a statement saying that it has recently received a large number of requests for help from DEXX platform users, and users have reported that their account assets have been emptied. After verification by CertiK, this security incident occurred on the Solana chain, but this chain is not within the scope of CertiK's audit.

CertiK stated that the main reason for the incident is the improper management of the private key by the DEXX platform, which led to the leakage of the official private key.

It is reported that the large-scale user asset theft incident that occurred on the DEXX trading platform has now been confirmed that the stolen funds have reached hundreds of millions of dollars, and the hackers are still continuing their operations. CertiK reminds all blockchain projects and users that the secure storage and management of private keys is the key to ensuring asset security.

The theft of DEXX assets has triggered a profound reflection on the security prevention of crypto assets. In order to prevent such tragedies from happening again, we must remember the following points:

  • 1. Never put too much money in the address of a custodial private key product, withdraw the earnings immediately.
  • 2. Never fully trust such products, even if the product does not do evil, it is difficult to avoid being stolen.
  • 3. The new address principle always applies, isolate addresses, isolate private keys, isolate seed phrases.
  • 4. Never be afraid of the trouble, back and forth to withdraw coins, record seed phrases, it is to prepare for the unexpected, the unexpected is not impossible to happen, just the probability is small.
  • 5. Before making any transactions, be sure to carefully check the website address of the trading platform to prevent private key leakage due to entering a phishing website, many seemingly similar websites may be traps.
  • 6. Avoid operating accounts with private keys and large amounts of funds in public network environments, as the security of public networks is difficult to guarantee and information may be stolen by criminals.
  • 7. Do not use overly simple or easily guessable passwords to protect your account and private key related information, but should use strong passwords containing uppercase and lowercase letters, numbers and special characters.
  • 8. Be cautious about airdrops or rewards from unknown sources, as this may be a means for attackers to obtain your private key information, do not lose big for small gains.
  • 9. If possible, use multi-factor authentication methods such as hardware keys, SMS verification codes, authenticator apps, etc. to add an extra layer of security protection to your account.
  • 10. Regularly check your account activity records, and take timely measures such as freezing the account and changing the password for any abnormal login, transaction and other behaviors.
  • 11. Pay attention to the security announcements and update information of the products you use, and upgrade the software or take corresponding security measures in time according to the official recommendations to deal with the new security threats.
  • 12. When sharing your investment experience or related information, be careful not to disclose key private keys, addresses and other content, to prevent being used by ill-intentioned people.
  • 13. Understand the security mechanisms and privacy policies of the products you use, and use products with incomplete security measures or unclear privacy policies with caution.
  • 14. Educate yourself and those around you about the important knowledge of digital currency security, form a good atmosphere of security awareness, and jointly prevent the risk of theft.
  • 15. Always remember: in financial investment, risk control is greater than making money, and principal is greater than everything.
  • 16. Finally, move your little money-making fingers to like, repost and spread the word, to help build a healthy web3 ecosystem.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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