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Funds Drained by Equalizer DEX Hacker: Users Warned, Investigation Initiated

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Funds Drained by Equalizer DEX Hacker: Users Warned, Investigation Initiated

On May 14, a hacker targeted the decentralized exchange (DEX) Equalizer and began stealing funds from users. The incident came to light when the Equalizer team issued a tweet warning users to stop using the platform’s front end. The hacker has managed to drain approximately 2,353 Equalizer (EQUAL) tokens, along with other tokens, from users. The stolen tokens may not have significant value individually, but the hacker’s strategy of making small transactions helped them evade detection while siphoning funds from users. The hacker’s wallet address was created over 222 days ago and is still receiving the stolen funds.

The theft started with the draining of 2,500 SpookySwap liquidity tokens (spLP) at around 4:10 am UTC on May 14. This initial attack paved the way for the hacker to take other tokens from users. So far, the total number of tokens stolen includes 2,353 EQUAL, 510,579 FantomStarter (FS), 2,500 spLP, 6 million AnyInu (AI), 985,565 ChillPill (CHILL), 50,000 WigoSwap (WIGO), and 25 multiDEUS (DEUS). As a consequence of this incident, the price of EQUAL has dropped by nearly 11% to around $8.90.

To make matters worse, a scammer exploited the situation by creating a fake Equalizer X account and offering affected users a way to claim a refund. It is unclear whether all the tokens were stolen specifically through the Equalizer DEX, but the team is currently investigating the exploit. As a precautionary measure, the Equalizer team advised users to be cautious. They recommended that if the dapp asks users to approve something or interact with an unfamiliar contract, they should immediately stop using the site.

A member of the Equalizer Discord channel stated that users who have not interacted with Equalizer websites for the past six hours should be safe. For those who have used the websites within that time frame, the team advised them to revoke any approvals they made during that period. The team is currently working on restoring the main website and has cautioned users against using it until it has been updated.

11 thoughts on “Funds Drained by Equalizer DEX Hacker: Users Warned, Investigation Initiated

  1. The fact that the hacker’s wallet address is still receiving stolen funds is maddening! 😤

  2. The team should have detected this sooner to prevent such a huge loss. 😒

  3. This incident has caused a drop in the EQUAL price. Investors are suffering because of this breach.

  4. A scammer taking advantage of the situation by creating a fake Equalizer X account? Ugh, that’s just despicable. 😡 Users need to be cautious and only rely on official channels for information and support. We must stay vigilant against such scams! 🚫

  5. Oh no, a hacker targeted Equalizer and stole funds? This is so concerning! I hope the team can resolve this issue quickly and strengthen their security measures.

  6. Users must be cautious and skeptical of unfamiliar contracts or requests. Trust has been shattered.

  7. Small transactions? Sneaky move by the hacker! They definitely knew how to evade detection. 😠 It’s important for platforms to constantly update their security systems to stay one step ahead of these malicious individuals. 🔒

  8. The hacker must face severe consequences for their actions. Justice needs to be served!

  9. How can a scammer take advantage of the situation? That’s just adding insult to injury! 😡

  10. Wow, I can’t believe the hacker’s wallet address has been active for over 222 days! 😱 That’s a long time to plan and execute such a scheme. It’s crucial for users to remain cautious and double-check any unfamiliar requests while using DEXs. 👀

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