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Crypto News – Equalizer DEX Hit by Cyberattack: Users Lose Funds, Investigation Commences

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Crypto News - Equalizer DEX Hit by Cyberattack: Users Lose Funds, Investigation Commences

Equalizer DEX Users Beware: Hacker Siphons Funds, Investigation Launched

Crypto News- A distressing saga unfolded on May 14 as a hacker wreaked havoc on the decentralized exchange (DEX) Equalizer, leaving users in disarray. The Equalizer team sounded the alarm, urging users to halt their activities on the exchange via a post on X, revealing the grim reality of funds being siphoned away.

As the sun rose, the hacker’s relentless onslaught saw approximately 2,353 Equalizer (EQUAL) tokens and a multitude of others snatched from unsuspecting users. While the individual value of the pilfered tokens might seem trivial, the sheer volume of transactions allowed the hacker to slip past detection, brazenly funneling funds into their wallet, which has been active for a staggering 222 days.

Equalizer DEX Users Beware: Hacker Siphons Funds, Investigation Launched

Massive Token Drain: Cyberattack Hits Crypto Community Hard

The initial blow came at 4:10 am UTC, with 2,500 SpookySwap liquidity tokens (spLP) drained, triggering a domino effect that saw a cascade of tokens vanish into the ether. Among the casualties were 510,579 FantomStarter (FS) tokens, 6 million AnyInu (AI), 985,565 ChillPill (CHILL), 50,000 WigoSwap (WIGO), and 25 multiDEUS (DEUS).

Financial Turmoil and Exploitation: Fallout of EQUAL Token Plummet

With the EQUAL token taking a nosedive of nearly 11%, tumbling to approximately $8.90, users found themselves reeling from the financial fallout. To compound their woes, a despicable scammer seized the opportunity to exploit the chaos, masquerading as an Equalizer X representative and duping affected users with promises of refunds.

Despite the turmoil, clarity remains elusive as the Equalizer team continues to unravel the intricacies of the exploit. Through the Equalizer Discord channel, they issued a crucial advisory, imploring users to exercise caution and vigilance. Any prompts from the dapp requesting approval or interaction with unfamiliar contracts should raise immediate red flags, signaling an urgent need to cease engagement.

Equalizer Discord Member Provides Relief Amid Cyberattack Fallout

In a glimmer of hope amidst the chaos, Equalizer Discord member “543” offered reassurance that users who refrained from interacting with Equalizer websites in the last six hours were spared from harm. However, those who fell prey to the hacker’s web during this window were urged to promptly revoke any approvals granted during that time.

As the team toils tirelessly to restore normalcy, users are urged to steer clear of the main website until the all-clear is given. The battle against cyber adversaries rages on, underscoring the critical importance of remaining vigilant in the face of ever-evolving threats.

Equalizer Discord Member Provides Relief Amid Cyberattack Fallout

FAQs

What happened on May 14 regarding Equalizer DEX?

On May 14, a hacker targeted Equalizer DEX, leading to a breach where user funds were drained through unauthorized transactions.

How many Equalizer (EQUAL) tokens were stolen in the attack?

Approximately 2,353 Equalizer tokens, along with various other assets, were siphoned off during the breach.

What triggered the breach initially?

The breach began with the theft of 2,500 SpookySwap liquidity tokens (spLP), which set off a chain reaction of unauthorized transactions.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Crypto News - Equalizer DEX Hit by Cyberattack: Users Lose Funds, Investigation Commences

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