Last updated on June 12th, 2024 at 07:28 am
The team behind the Equalizer DEX have announced that users should halt all interactions with the platform following a potential security breach.
Don’t use https://t.co/HpuDvYx5Sg for now.
Please use these alternative Mirrors till thenhttps://t.co/4JEaLpOvu8 (Equalizer on Fantom)https://t.co/bvqpuk6VDu (Equalizer on Base)https://t.co/5ivVCX3M5e (Equity)https://t.co/hmELsa9X7L (CL Farms on Base & Fantom)
Please…
— Equalizer (@Equalizer0x) May 14, 2024
The breach appears to have begun with the transfer of 2,500 SpookySwap liquidity tokens (spLP) around 4:10 a.m. UTC on May 14. This initial exploit allowed the hacker to access and unauthorized transfers of various other tokens from the platform. Notably, the hacker’s wallet, which was created 222 days ago according to on-chain data, continues to receive the stolen funds.
Among the tokens reportedly drained are 2,353 EQUAL tokens across five transactions, 510,579 FantomStarter (FS) tokens, 2,500 spLP tokens, 6 million AnyInu (AI) tokens, 985,565 ChillPill (CHILL) tokens, 50,000 WigoSwap (WIGO) tokens, and 25 multiDEUS (DEUS) tokens.
As a result of these unauthorized transactions, the price of the EQUAL, the DEX’s native token, has declined significantly, dropping by almost 11% to approximately $8.90.
Meanwhile, in another development, scammers have sought to capitalize on the situation by creating a fake social media account masquerading as the Equalizer team and disseminating false information on how affected users can reclaim their lost funds.
The Equalizer team has noted that it is currently conducting a thorough investigation to ascertain the extent of the breach and identify the vulnerabilities that were exploited. The team, via its Discord channel, has issued a series of precautionary measures for users to follow.
They have advised users to revoke any approvals made on the platform within the last six hours and to refrain from using the main website until further notice.
The team also noted that it is working on restoring the main website and has urged users to exercise caution and vigilance during this time.
UPDATE: We previously featured the incorrect logo for Equalizer Finance, a flash loan marketplace. We have now corrected and updated the report to reference Equalizer DEX.
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