Today in crypto, security experts at SlowMist have identified over 8,620 Solana wallets linked to the DEXX hack, spot Ether exchange-traded funds (ETFs) have scored a point against their Bitcoin counterparts, and publicly traded Bitcoin mining companies are investing heavily in equipment upgrades.
Over 8,600 Solana wallets linked to $21 million DEXX hacker
Crypto security firm SlowMist released a document identifying more than 8,620 Solana addresses suspected of being linked to the DEXX hacker.
On Nov. 16, memecoin trading terminal DEXX fell victim to a security exploit, resulting in losses impacting at least 900 unique users.
According to MistTrack, most victims lost less than $10,000 amid a private key leak, though one individual lost more than $1 million.
The total loss from the incident was initially reported at $21 million, the second-largest hack in November behind the $25.5 million Thala hack, though Thala recovered all lost assets.
As of Nov. 29, DEXX’s total loss has risen, SlowMist founder Cos told Cointelegraph.
“The total loss is estimated to be within $30 million. The price fluctuation of meme tokens has a significant impact on the overall loss,” Cos said.
Over 8,600 suspicious wallets were identified on Solana. Source: MistTrack
The hacker was seen converting the assets into Solana (SOL).
Cos said that SlowMist intends to publish additional suspicious wallet addresses on Ethereum, BNB Chain and Base “next week.”
Ether ETFs are beating their Bitcoin counterparts amid recent ETH rally
Ether exchange-traded funds (ETFs) have seen more money from investors than their Bitcoin counterparts since Friday, Nov. 22, as Ethereum’s decentralized finance (DeFi) ecosystem scored a key victory in court this week.
The spot Ether ETFs have taken in $224.9 million in net inflows over the last four trading days between Nov. 22-27, while the spot Bitcoin ETFs tallied $35.2 million in net inflows over the same timeframe, Farside Investors data shows.
Ether ETF net inflows since July. Source: CoinGlass
It follows a nearly 8% Ether (ETH) price rally to over $3,590 over the past seven days.
Depending on how the Nov. 29 trading day goes, it could be the first week that the US Ether funds beat spot Bitcoin ETFs in net inflow.
Public Bitcoin miners invest heavily in PP&E
Publicly listed Bitcoin mining companies have spent a combined $3.6 billion on plant, property and equipment (PP&E) upgrades so far this year, underscoring heavy investment in the Bitcoin infrastructure business.
According to data from TheMinerMag, the 16 public miners have raised more than $5 billion in 2024, with the third quarter seeing the highest funding amount since the start of 2022. Mining hardware upgrades accounted for the bulk of the PP&E spending.
Net expenditures on PP&E among publicly traded miners. Source: TheMinerMag
The data showed miners were increasingly relying on debt financing to fuel their expenditures. For example, MARA issued a 0% convertible note offering to raise funds to acquire 6,474 Bitcoin (BTC).
Other major deals include Hive Digital’s acquisition of 6,500 ASIC units for the company’s upcoming Paraguay facility and an agreement between Bitfarms and Stronghold to host an additional 10,000 Bitcoin mining units at Stronghold’s Pennsylvania site.
