The memecoin launchpad DxSale has suffered a cyberattack, resulting in approximately 1,400 liquidity providers (LP) on the BNB Chain losing $7.3 million. According to a post on X by blockchain data platform PeckShield, the attacker transferred $1.87 million worth of BNB tokens via the "0xC457" address to two main wallets, subsequently depositing them into multiple addresses on the Binance exchange. This was reported by Cointelegraph.com reported by.
The DxSale platform was widely used in 2021 to lock liquidity for tokens issued on the BNB Chain. Blockchain analyst Tahax noted that the platform's locker still held liquidity for projects launched years ago. The wallet used for the exploit was newly created and was found to have been funded through the Bybit crypto exchange.
This incident has once again brought security issues in the decentralized finance (DeFi) sector to the forefront. According to DefiLlama, $52 million was stolen in DeFi hacks in May. In April, this figure reached $634 million, the highest level in the past year. The use of artificial intelligence for malicious purposes is further increasing concerns.
Manuel Aráoz, founder of OpenZeppelin, stated that the capabilities of AI in identifying vulnerabilities in smart contracts are expanding, and he now considers the entire DeFi sector to be at risk. Analysts suggest that a "backdoor" may have been left in the DxSale contract, allowing the hacker to withdraw BNB tokens in bulk.
Currently, the hacker has managed to move some of the funds through infrastructures that are difficult to track. Security platform Coinsult confirmed that the hacker utilized withdrawal cycles. According to DefiLlama, total losses in the crypto world have exceeded $17 billion, with $7.8 billion attributed specifically to DeFi protocols.
Read “Zamin” on Telegram!
