The post DEXX Hackers Resume Operations: Stolen Funds Begin Laundering into SOL appeared first on Coinpedia Fintech News
The attackers who attacked the latest DEXX have been reactivated after a week of inactivity to change the stolen alt coins for Solana (SOL) in large amounts according to Mistract, cyber security.
This comes after, decentralized exchange DEX platform was targeted and users and the platform woke up to hefty losses. Dexx’s founder, Roy, has made several releases that explain the efforts being made to regain the lost funds and enhance security on the site.
After days of inactivity, the hackers behind the DEXX incident have finally begun laundering the stolen funds.Currently, they are converting the altcoins into SOL in larges quantities. Stay tuned for the latest updates on this incident. pic.twitter.com/Y3frppJOfL
— MistTrack (@MistTrack_io) November 26, 2024
A Coordinated Investigation
Roy went on to state that DEXX is currently working with active law enforcement agencies, other competent cybersecurity companies, and blockchain analysis professionals to track hackers. The team has acquired much information through legal sources and hopes to track down the attackers.
至所有关心和关注DEXX的伙伴们： 在过去7天的至暗时刻，我本人和团队都经历了前所未有的挫折与挑战，我很感谢大家愿意花时间来等待和陪伴，让我有机会表达内心最真实的想法。… pic.twitter.com/IJEjdQk8fz
— Roy (@honza204) November 25, 2024
The hacking group has been given 48 hours to start communicating with the targets and sort out the issue peacefully. Otherwise, a firm’s noncompliance will be pursued endlessly legally.
User Compensation and Security Improvements
Erasing their accumulated trust, DEXX is working towards devising a compensation model for the affected users. This has to do with carrying out a form of validation to ascertain the difference between a real user and a hacker withdrawing his/her money. Security firm SlowMist is helping with this process and double-checking addresses and transactions have not been missed.
Moreover, as part of the DEXX team’s ongoing efforts to enhance the security of its platform, the team has consulted with other security specialists about how to further strengthen asset protection. This consists of rebuilding the security framework of the platform to avoid repeat cases in the coming years.
To calm users down, Roy stated that the platform is still online and working. During the past week, Dexx made $1.9 million in transactions and has a net profit of $20,000.
While DEXX is trying to overcome the current issues, it is crucial that their users and customers are protected and that the platform they have created is not being manipulated in any way – this is going to be the key to getting their community back.