DEXX trading platform has encountered a major security incident, the Meme coin market is impacted.

Recently, a decentralized platform focused on Meme token trading suffered a serious cyber attack. Preliminary estimates suggest that this incident may have led to the illegal transfer of user assets amounting to hundreds of millions of dollars. Security experts point out that the leakage of user private key information is the main reason for this incident, but the specific leakage channels are still under investigation.

This event has dealt a significant blow to the recently active Meme coin market, while also triggering deep reflections on the security of on-chain assets.

Event Details and Latest Developments

As an important platform for trading Meme coins, this DEX not only provides trading and liquidity services but also supports token project launches, staking, lending, and other functions, building a complete Meme financial ecosystem. Its daily trading volume has long ranked among the top in DEX and is regarded as an important hub in the Meme coin market.

However, this incident exposed serious vulnerabilities in the platform's security management:

1. Although it claims to be a non-custodial platform, it actually records user private key information.
2. Users export private keys in plaintext, which can easily be intercepted.

The platform's founder responded on social media, stating that the team is working tirelessly to resolve the issue and has promised to compensate users for their losses. However, as the amount stolen continues to rise, most users are expressing skepticism, and the platform's reputation has plummeted.

Technical personnel have discovered that the platform has a risk of transmitting private keys in plaintext during export. Even with HTTPS, privacy data may be exposed due to browser vulnerabilities and other reasons. Additionally, some wallet applications have pointed out that the platform frequently requests permission to upload user clipboard content, which may have resulted in the acquisition of sensitive user information.

Impact on the Meme Coin Market

As a result of this event, several well-known Meme coins have experienced varying degrees of decline, including:

• A certain token has dropped by about 30%
• Another coin fell by about 20%
• The third type of coin fell by about 12.5% at most.

It is worth noting that this attack may still be ongoing. As of now, at least $13 million has been confirmed stolen, but the actual losses could far exceed this figure. In addition to stablecoins, various popular Meme coins have also been stolen.

The security team stated that the stolen funds have not yet been transferred and are still stored in an address controlled by hackers. This situation brings greater uncertainty to the market, as no one knows whether these tokens will be suddenly sold off, leading to wider market fluctuations.

Security Recommendations for Funds

In light of the recent frequent security incidents, investors should take the following measures to protect their assets:

1. Use a hardware wallet to store major assets
2. Diversify funds across multiple wallets
3. Choose a truly decentralized custody solution
4. Carefully choose a trading platform and pay attention to its security audit status.
5. Consider purchasing cryptocurrency insurance against hacking attacks.

In addition, users should be cautious of recommendations from others, prioritize using reputable tools, be wary of various online scams, and promptly transfer funds to a self-controlled wallet after completing large transactions.

In conclusion, safety is always the primary consideration when participating in cryptocurrency investments. It is recommended that investors remain vigilant at all times, continuously learn and update their security knowledge to ensure the safety of their assets.