A hacker began draining users’ funds on May 14 through the equivalent of an exchange

A hacker began draining users’ funds on May 14 through the equivalent of a decentralized exchange (DEX). The misuse of funds only became apparent when the Equalizer team tweeted to warn users to stop interacting with the exchange.

So far, the hacker has drained around 2,353 Equalizer (EQUAL) and several other tokens from users. Although the value of the stolen tokens was low, the small transactions allowed the hacker to continue withdrawing users’ funds under the radar.

source: Eq

The hacker’s wallet address was created more than 222 days ago and continues to receive stolen user funds.

The theft began with 2,500 SpookySwap Liquidity Tokens (spLP) being drained at around 4:10 AM UTC on May 14, leading to several other tokens being stolen from users.

The total number of tokens drained so far includes:

As a result, EQUAL’s price fell approximately 11% on the day to reach around $8.90.

To make matters worse, a scammer then created a fake Equalizer

source: Calculate the imaginary equivalent

It is not yet clear whether all tokens have been drained by Equalizer DEX, but the Equalizer team is still currently investigating this exploit.

Through the Equalizer Discord channel, the team announced a precaution that users should take to stop further loss of funds:

“If your Connect Wallet DApp asks you to agree to something, immediately stop using this site. If your dApp asks you to interact with a contract that you have never interacted with before, stop using this site. If you are asked to agree to any contract that is unknown or not contained in our documents, stop using this site.

Equalizer Discord member “543” informed the community that users are safe if they “have not interacted with Equalizer websites in the past 6 hours.” However, if users have interacted with websites in the past six hours, 543 asks users to “please revoke all consents made during this time.”

source: Discord Channel Equalizer

The team is working on restoring the main site and has informed users to avoid using the main site until it is updated.

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