GoPlus Issues Security Warning After Malicious Token Authorization in DMT Airdrop

GoPlus advises DEXMAX DMT airdrop participants to revoke authorizations or move assets after theft exceeding $130,000 affected over 1,000 users and funds were traced to ETH and HitBTC.

ETH

Summary

On November 20, blockchain security firm GoPlus alerted DEXMAX DMT airdrop participants to revoke token authorizations or transfer assets amid a security breach. Reports confirm that more than 1,000 users lost funds, with cross-chain transfers exceeding $130,000. Stolen funds were converted to ETH and partially moved to the HitBTC exchange. The warning follows malicious token authorization incidents linked to the airdrop.

Terms & Concepts
  • Token Approval: A blockchain mechanism allowing a smart contract to spend or transfer a user’s tokens.
  • Cross-Chain Transfer: The movement of digital assets between different blockchain networks.
  • Airdrop: A promotional distribution of cryptocurrency tokens to multiple wallet addresses.