Members of major Meme communities were in an uproar this morning due to a piece of news. The on-chain trading terminal DEXX was attacked, and multiple users confirmed that their funds were transferred. This attack affected multiple chains, and a wide variety of tokens were sold off, leading to a rapid short-term decline in the prices of several meme coins.
Dexx is a cross-chain Memecoin trading platform that supports assets on SOL, ETH, TRX, BASE, BSC, and other chains. It primarily promotes features such as on-chain take-profit and stop-loss, hot concept push notifications, smart money wallet tracking push notifications, double-your-money, one-click anti-squeeze, and one-click copy trading.
VX: TTZS6308
Regarding the theft of DEXX users' funds, Slow Mist founder Yuxin posted on the X platform, stating that the affected group was related to using DEXX for on-chain meme trading, and the private keys were centrally hosted by DEXX, which were definitely leaked. As for the specific leak method, the investigation is still ongoing. Immediately, various Meme communities were filled with curses:
"I was woken up at night to find that DEXX had stolen $20,000, the fruits of my hard work for a month were gone, I'll never touch a centralized wallet like this again";
"Speechless, I just registered and transferred 100 SOL in, and it was stolen. No wonder so many KOLs recommended it";
"I liquidated all my Memes, this time many wallets were hacked, and the hackers will dump the coins, and after the fermentation, all Memes may be dumped, causing a crash";
Many victims, large amounts stolen
Due to the large number of users affected, a "rights protection group" was quickly established to collect information on the thefts. Slow Mist founder Yuxin also stated: "Based on the data submitted by community users, we have calculated that the loss from the DEXX theft has reached several million dollars, and these funds are currently scattered across multiple hacker addresses."
Other community users have also calculated the total amount to be over $10 million or even over $100 million. As the full accounting of the addresses has not been completed, the final stolen amount cannot be determined, but from the feedback of community users, there are many who lost tens of thousands or even hundreds of thousands of dollars.
DEXX responds, denies rug, but suspicions of internal theft arise
After the theft incident, the DEXX Chinese official account posted on the X platform, responding: "DEXX has noticed the problem of users' tokens being transferred away, and multiple professional security audit teams are now analyzing and investigating. The team is working hard to resolve the issue, and there is no rug. Subsequent progress will be promptly notified to everyone through in-site push notifications and X/Telegram."
The personal information of the DEXX founder was also exposed. DEXX founder Roy (@honza 204) later responded to the theft incident, stating: "I will pay to compensate, I have isolated some users, no rug, investigating, unable to reply to everyone, rest assured."
But this response has not been followed up on, and users are not buying it, questioning whether DEXX intentionally ran off with the funds or committed internal theft.
DEXX rose to prominence during the recent Meme hype, mainly relying on KOL promotion to quickly acquire users. Currently, the platform's bot offers extremely high referral commissions, up to 50%-60% of the transaction fees, which is quite lucrative given the prevalence of large MC memecoins.
Honestly, I haven't used DEXX myself, and those who know me know that I mainly use pump, gmgn, and occasionally add Okex's web3. I also didn't actively promote the platform when DEXX first came out, as I felt that on-chain meme trading is the same no matter where you do it, and everyone knows I don't push platforms. The theft incident was unpredictable, whether it's real or internal theft, the event has already happened. I also want to warn everyone not to disclose your private keys, and don't keep large amounts of funds in these wallets. Take profits in time, don't click on phishing links, and don't give unauthorized approvals, as the dangers can sometimes be just a click away.
For those who were victims of the theft, don't be discouraged.
Think about it, everyone got hacked, so you no longer have to be jealous or anxious about those who made 1000 SOL buying on-chain memes.
DEXX has cured everyone's anxiety, jealousy, and envy in one night.
DEXX has put everyone back on the same starting line today, no need to be anxious, start over.
Remember, electric vehicles are still here, and the Meituan Waimai app hasn't been canceled. There are still plenty of opportunities.
After the DEXX incident, many KOLs who had been aggressively promoting it and describing it as the "on-chain Binance" quickly deleted posts and distanced themselves from it, with the most criticized being the KOLs who had boasted about their sky-high referral commissions.
Immediately after the incident, these KOLs tweeted @ the DEXX founder, stating that their referral commissions had never been cashed out, and were mocked by netizens as "two sticks to break the brotherly love, the record is full of brothers' names."
Security Recommendations
Memes are undoubtedly the hottest sector for wealth creation in this bull market, and engaging in on-chain operations and using various bots have become a daily habit for users. However, the "DEXX attacked, user funds stolen" incident should serve as a wake-up call for the industry. To avoid situations where "the SOL you worked hard to earn for months ends up working for hackers", I hope everyone will be extremely cautious about the security of on-chain assets:
Do not blindly trust others' recommendations, research the product mechanism thoroughly, and it is recommended to use bots that store private keys off-server;
Choose bots with a longer operating history, a strong team, and no security incident records;
In TG groups, do not click on unfamiliar links and do not respond to any private messages;
Regardless of the tools used, it is recommended to withdraw and transfer large amounts of funds to a self-hosted wallet after transactions;
Previous incidents like Bananagun and UniBot have also involved thefts, and DEXX will not be the last.
In the dark forest of Web3, only those who survive to see tomorrow will have a chance.
