The current crypto bull rally has brought speculative assets to the forefront, with meme coins dominating social media discussions.
Among the most talked-about tokens are PNUT, PEPE, DOGE, MEME, NUX, and COIN, all securing top positions in trending lists. Bitcoin ($BTC), despite its prominence, trails behind at #7 in terms of online buzz.
🗣️ The top trending tokens in crypto are being dominated by meme coins as speculative assets dominate this historic bull rally. The top 6 notable assets seeing significantly higher discussion rates across social media are PNUT, PEPE, DOGE, MEME, NUX, and COIN. Bitcoin sits at #7. pic.twitter.com/j6IcBxT8c4
— Santiment (@santimentfeed) November 14, 2024
Amid this surge in activity, trading terminal DEXX has come under scrutiny following user complaints of unauthorized token transfers. The platform, which specializes in memecoin trading, acknowledged the issue and is working with professional security audit teams to investigate the situation. DEXX has denied allegations of orchestrating a rug pull, emphasizing its commitment to resolving the problem and restoring user trust.
DEXX announced that it has recently noticed feedback from multiple users about tokens being transferred out. The team is currently collaborating with several professional security audit teams to actively analyze and investigate the issue. They stated that they have not conducted…
— Wu Blockchain (@WuBlockchain) November 16, 2024
Reports On $16 Million Worth Of Tokens Stolen From DEXX
However, the situation has raised alarms across the community. Reports reveal that $16.79 million worth of tokens have been stolen from DEXX users. Significant losses include $3.45 million from BAN tokens and $1.75 million from LUCE tokens. Notably, DEXX had previously claimed to have passed a security audit conducted by Certik, a reputable blockchain security firm.
The total value of the stolen tokens of DEXX users of the MEME trading tool that claimed to have completed a security audit by Certik reached $16.79 million, of which $3.45 million was stolen from BAN and $1.75 million was stolen from LUCE. OneKey said that DEXX may have uploaded…
— Wu Blockchain (@WuBlockchain) November 16, 2024
Adding to the concerns, OneKey, a hardware wallet provider, suggested that DEXX might have inadvertently uploaded sensitive clipboard content from users. This potential vulnerability has further highlighted the risks associated with centralized trading tools in a decentralized ecosystem.
As memecoins continue to drive market trends, the security issues at DEXX serve as a stark reminder of the importance of robust safety measures. Investors are urged to remain vigilant and prioritize secure platforms, even as they ride the wave of speculative excitement.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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