How much was lost in the Soxex hack?

The Soxex hack resulted in $1.0M in losses on July 04, 2019.

What attack technique was used in the Soxex exploit?

The Soxex exploit utilized Rugpull. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

Soxex Hack

TOTAL LOST $1.0M

Medium Jul 04, 2019 Rugpull

Affected Chain 2019 Incident surface

Recovered - No recovery reported

All-Time Rank #833 By amount stolen

Protocol Type Dexs Target category

Incident Overview

According to PeckShield digital asset escort system (AML) data, the Soxex exchange was suspected of running away. The exchange website has been unable to open, swept away hundreds of millions of investors' funds, involving BTC, ETH, HT, OKB, and many other mainstream currencies.

According to some addresses submitted by victims (incomplete statistics), PeckShield security personnel locked the flow of target assets (USDT part) and found that the target addresses starting with 1G8cEC and 1GLsou aggregated over 1 million USDT. After one or two transfers, a total of 1 million USDT was transferred to the Huobi exchange starting with 1HckjU.

Incident Report

Protocol / Project Soxex

Date of Incident July 04, 2019

Attack Technique Rugpull

Classification CeFi

Primary Source View Post-Mortem

Protocol Information

Protocol Type Dexs

Official Website sonex.so

Protocol Twitter/X @OopsItsSONEX

Team Anonymous

Source Code Unverified

Market Context at Time of Hack

Token Categories

Marketplace Centralized Exchange (CEX) Token Solana Ecosystem

Protocol Links

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Deep understanding of rugpull and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in Soxex's contract logic - root cause: cefi

Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block

Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Hard to catch — private key / OpSec failures are outside smart contract audit scope

If you're auditing a protocol with similar architecture to Soxex, these are the critical security checks that could have prevented this incident (July 2019).

Verify all logic paths related to Rugpull are guarded by proper access controls and input validation
Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

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Sources & References

01
Source 1 https://www.coinonpro.com/kuaixun/49935.html

Threat Assessment

Severity Level

MEDIUM

Attack Vector Rugpull
Root Cause CeFi
Year 2019

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