The DEXX hacking incident has been a major topic of discussion in the crypto community over the past month.
According to the latest analysis from MistTrack, a security product of the Slowmist team, the hackers behind the DEXX attack have managed to launder a significant portion of the stolen funds – a total of 6,432.4 ETH, which is worth over $10 million at current prices.
Tracing the Laundered Funds
Through their meticulous investigative work, the MistTrack researchers have been able to trace the flow of the stolen DEXX funds and identify the key wallet addresses involved in the laundering process.
The main EVM (Ethereum Virtual Machine) address associated with the hack, 0xF…228, currently holds a balance of $19,446, with these funds distributed across the Ethereum, Binance Smart Chain, and BASE blockchain networks.
In addition to the Ethereum-based holdings, the hackers have also moved portions of the stolen assets to two separate Solana blockchain addresses.
The first of these, 4sm…CHLd, now contains $59,540 worth of funds. The second Solana address, GPuN…RKgt, holds a smaller balance of $2,200.
This detailed tracking of the stolen funds highlights the complex, multi-chain nature of the hackers’ money laundering efforts.
By diversifying their illicit proceeds across different blockchain networks, the cybercriminals have attempted to obscure the trail and make it more difficult for investigators and authorities to recover the stolen assets.
Also Read; Pump Science Faces Private Key Leak For Wallet, Hacker Uses Key To Generate New Tokens
Impact and Community Response
Since the initial reports emerged on November 16th, the cryptocurrency community has closely followed the developments surrounding the DEXX incident.
Based on the information gathered so far, the total estimated loss from the hack is approximately $23 million.
However, it’s important to note that this figure is subject to change due to the inherent volatility of cryptocurrency prices.
The MistTrack team has been actively assisting in the investigation, leveraging their specialized security tools and expertise to track the movement of the stolen funds.
While their analysis has provided valuable insights, the researchers note that the incident is now nearing its end, and there will be fewer updates going forward.
They encourage users to stay informed by closely following the official announcements and updates from the DEXX team, as they are likely to have the most up-to-date and authoritative information on the matter.
Broader Context and Industry Trends
The DEXX hacking incident is unfortunately not an isolated case in the crypto industry. In a recent development, the Japanese cryptocurrency exchange DMM Bitcoin announced that it will be liquidating its operations after suffering a $320 million security breach.
Additionally, a Solana wallet address scam resulted in the loss of $3.08 million worth of PYTH tokens, highlighting the ongoing vulnerabilities in the DeFi space.
These incidents underscore the critical need for improved security measures and user education to mitigate the risks associated with cryptocurrency-related hacks and scams.
Also Read: Polterfinance Hacker Moves 120 ETH To Tornado Cash After $8.7M Exploit