Equalizer DEX Hack

On May 14, 2025, the Equalizer decentralized exchange (DEX) was compromised in a targeted exploit that enabled a hacker to drain user funds through a series of unauthorized transactions. The breach began around 4:10 a.m. UTC with the theft of 2,500 SpookySwap liquidity provider (spLP) tokens and escalated as the attacker siphoned off several other assets, including 2,353 Equalizer (EQUAL), 510,579 FantomStarter (FS), 6 million AnyInu (AI), 985,565 ChillPill (CHILL), 50,000 WigoSwap (WIGO), and 25 multiDEUS (DEUS) tokens. Blockchain data revealed the attacker’s wallet had been active for 222 days before the incident and continued to receive funds even after the exploit.

In response, the Equalizer team issued an urgent warning on their X (formerly Twitter) account, advising users to halt interactions with the platform and revoke any recent contract approvals from the past six hours to minimize further losses. Although the financial impact was modest compared to other large-scale hacks, the attacker’s method of executing numerous small transactions initially helped them evade detection. The exploit led to an 11% decline in the price of the EQUAL token, which dropped to approximately $8.90.

Adding to the chaos, a scammer created a fake Equalizer account to deceive affected users by promising fake refunds, further endangering victims. The incident underscores the critical importance of cautious smart contract interactions, particularly avoiding unknown dapps and regularly reviewing wallet permissions. It also highlights how attackers increasingly exploit both technical vulnerabilities and social engineering tactics to target DeFi users.