A hacker targets the ApolloX Exchange, resulting in the loss of 53 million APX tokens

ApolloX, a decentralized crypto exchange, was purportedly hacked on June 8, according to the site, which indicated that the hacker discovered a hole in the Trading Rewards Contract.


According to ApolloX, the malicious actor gathered 255 signatures, allowing 53 million APX tokens to be withdrawn from the Withdrawal Contract.
ApolloX Exchange

The incident was discovered after the DEX momentarily stopped the withdrawal feature, which was later restored on Wednesday.


According to ApolloX, the hacker gathered 255 signatures, allowing 53 million APX tokens to be withdrawn from the Withdrawal Contract.



The stolen tokens were worth close to $2.1 million at the time of the attack. As a result, ApolloX token dropped by nearly 11% in the last 24 hours at the time of writing.


However, due to a flaw in the exchange smart contract, the "ApolloX team also made an emergency repurchase of 12,748,585 APX tokens worth $600,000" after the attack. "Lost tokens will be paid up for via APX collected via exchange trading fees," the site promised.


The event occurred shortly after ApolloX announced that it had received seed funding from investors such as Binance Labs and Kronos Research. The DEX has received an unknown sum in strategic funding to help it develop further into the Web3 space.


"Decentralized finance is increasingly eating into the market share of centralized finance," said ApolloX Captain, the company's founder. In this competitive sector, protocols are rapidly evolving as users seek more control, value, and accessibility."


Nonetheless, ApolloX believes that the 'future of DAO will assist in eliminating centralized leadership and empowering the next generation of protocols.'