A hacker initiated the process of draining user funds from the decentralized exchange (DEX) Equalizer on May 14. The unauthorized use of funds became apparent when the Equalizer team issued a warning to users, advising them to refrain from engaging with the exchange in a post on X.
As of now, the hacker has siphoned approximately 2,353 Equalizer (EQUAL) tokens, along with several other tokens, from users. Although the value of the stolen tokens is relatively low, the hacker’s strategy of conducting small transactions allowed them to continue draining user funds discreetly.
Source:
Equalizer
The hacker’s wallet address was created 222 days ago and is still receiving stolen user funds. The theft commenced with the draining of 2,500 SpookySwap liquidity tokens (spLP) at around 4:10 am UTC on May 14. This initial action paved the way for the hacker to take various other tokens from users.
The total number of tokens drained thus far includes:
– 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
– 25 multiDEUS (DEUS) tokens
Consequently, the price of the EQUAL token has declined by almost 11% within the day, reaching around $8.90.
To add insult to injury, a scammer subsequently created a fraudulent Equalizer X account and posted information on how affected users could claim a refund.
Source:
Equalizer
It remains uncertain whether all the tokens were drained solely through the Equalizer DEX. Nonetheless, the Equalizer team is actively investigating the exploit.
Through the Equalizer Discord channel, the team introduced a precautionary measure for users to prevent further loss of funds:
Source:
Equalizer
A member of the Equalizer Discord community, known as “543,” reassured users that they are safe if they haven’t interacted with Equalizer websites within the past six hours. However, for those who have engaged with the websites during this time frame, “543” requested that they revoke all their previous approvals.
Discord user “543” cautions users about revoking approvals. Source: Equalizer Discord channel
The team is currently working on restoring the main website and has advised users to refrain from using it until the updates are complete.