Equalizer Exchange Hit by Major Security Breach, Suspends Operations

Equalizer, a decentralized trading protocol, has temporarily suspended its services due to a security breach. The incident resulted in unauthorized token drainage, impacting various tokens, including EQUAL, FS, spLP, AI, CHILL, WIGO, and DEUS. The team has issued precautionary measures, urging users to revoke dapp approvals and use only official websites. The Equalizer team is actively working to restore the main website and investigate the breach, with ongoing communication and support for affected users.

Equalizer Exchange Suffers Significant Security Breach, Suspends Services Amid Token Drainage

London, May 14, 2024 - Equalizer, a prominent decentralized trading protocol, has announced a temporary suspension of its services, including Equalizer.Exchange and associated platforms, following a major security breach that resulted in the unauthorized drainage of tokens from user accounts.

The breach, which occurred on May 14th, saw a malicious actor exploit vulnerabilities within the exchange to initiate unauthorized transactions, siphoning off a significant amount of tokens from user wallets. The compromised tokens include 2,353 Equalizer (EQUAL) tokens, 510,579 FantomStarter (FS), 2,500 SpookySwap liquidity tokens (spLP), 6 million AnyInu (AI), 985,565 ChillPill (CHILL), 50,000 WigoSwap (WIGO), and 25 multiDEUS (DEUS).

The incident triggered an immediate response from the Equalizer team, who suspended all operations and services on the platform to contain the breach and prevent further losses. The team has also advised users to cease interacting with the Equalizer website and associated platforms until further notice.

In a statement released shortly after the breach, Equalizer emphasized the importance of security and user safety, stating that "we take the security of our platform and our users' funds very seriously." The team has launched a thorough investigation into the incident to determine the extent of the breach and identify the vulnerabilities that were exploited.

According to Equalizer's investigation, the hacker's wallet had been active for over 222 days, indicating a prolonged period of illicit activity. The team is actively collaborating with law enforcement and blockchain security experts to track down the perpetrator and recover the stolen tokens.

In response to the breach, Equalizer has outlined several precautionary measures for its users to protect their assets. These measures include:

• Halting any interactions with the Equalizer decentralized app (dapp) if prompted to approve unknown contracts or interact with new contracts not listed in the official documentation.
• Revoking any approvals granted to the Equalizer dapp within the last six hours.
• Using alternative website mirrors provided by Equalizer until the main website is fully restored.

The Equalizer team is committed to resolving the issue swiftly and effectively. The team is working around the clock to restore the main website and implement enhanced security measures to prevent future breaches.

"We understand that this is a challenging time for our users, and we are doing everything in our power to mitigate the impact of this breach," said a spokesperson for Equalizer. "We are grateful for the support of our community and appreciate your patience as we work to resolve this issue."

The community is urged to stay vigilant and be wary of potential scams, such as fraudulent accounts impersonating Equalizer and offering refunds to affected users. The Equalizer team strongly advises users to only interact with official Equalizer channels and to exercise caution when interacting with any third-party platforms.

As the investigation progresses, Equalizer will continue to provide regular updates to its users on the status of the breach and the steps being taken to resolve the issue. The team remains dedicated to providing a secure and reliable trading platform for its users and to preserving the integrity of the Equalizer ecosystem.