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Filament DEX Suffers Major Exploit, $572,000 Drained in Self-Liquidation Attack
April 7, 2025 – Cryptonewsland
In a shocking turn of events, Filament DEX has fallen victim to a massive self-liquidation exploit. The incident resulted in the draining of approximately $572,000 from the exchange’s user deposits. This recent development highlights the growing vulnerability of decentralized exchanges (DEX) and emphasizes the need for enhanced security measures.
As of April 6, at 12:00 AM UTC, an unknown attacker exploited Filament DEX’s order book system, manipulating prices to withdraw funds from the platform. The attack occurred while most users were asleep, allowing the perpetrator to remain undetected until the early morning hours. Once the breach was detected, the exchange swiftly suspended all trading and withdrawals to prevent further losses.
In an effort to recover the stolen assets, Filament DEX has collaborated with law enforcement agencies and blockchain security experts. The platform has released all relevant wallet addresses and transaction data, allowing investigators to track the movement of stolen funds. In a show of cooperation, Filament has also offered a 10% bounty worth approximately $57,000 to anyone who can help recover the majority of the stolen assets.
In an additional measure, the platform has assured liquidity providers affected by this incident that they will provide detailed instructions for recovering their stolen funds once the situation stabilizes. The DEX is actively working on developing and implementing enhanced security protocols to prevent future attacks.
The recent exploit serves as a stark reminder of the significant risks faced by decentralized exchanges in today’s market. With self-liquidation vulnerabilities persistently exposing platforms to severe financial losses, it is crucial for DEXs to prioritize security measures.
Source: https://cryptonewsland.com/filament-dex-suffers-major-exploit-572000-drained-in-self-liquidation-attack/
