According to Decrypt , on February 8, 2025, LBank, together with 7 industry pioneers including MEXC Ventures, HashKey Capital, SevenX Ventures, and Mask Network, jointly launched a $15 million donation plan for the DEXX project. The plan aims to provide compensation to affected users of the DEXX platform that have been attacked, and compensation has been started. In addition to user compensation, the plan also aims to promote Meme ecosystem construction and innovation incentives.
This donation brings together the core forces of the crypto industry. LBank and MEXC Ventures share the same vision for the development of Meme Coin: Meme Coin is no longer just a simple community-driven token, but will become an important force in promoting community participation and value creation. They will be committed to supporting high-quality Meme Coin projects and are optimistic about its transformative potential in the broader cryptocurrency ecosystem. Other participants provide support in their respective fields: Mask Network, SevenX Ventures and HashKey Capital recognize the value of Meme Coin and contribute professional strength in technical support and ecosystem construction respectively.
To ensure transparent and efficient use of funds, LBank and MEXC Ventures announced the establishment of a Meme Prosperity Committee for this incident to ensure that all aid funds are used to compensate users affected by the DEXX incident.
It is understood that DEXX is an innovative on-chain transaction terminal. It was attacked on November 16, 2024, and the private key was leaked, resulting in a large amount of user funds being transferred. On December 6, 2024, DEXX announced that 80% of the platforms daily income would be used for user compensation. In order to speed up the compensation progress and rebuild user trust, DEXX officially launched the compensation portal on December 14, 2024, and opened the compensation NFT pledge portal on February 5, 2025, allowing affected users to pledge NFTs to participate in the subsequent compensation plan.
The LBank team promised to ensure that the entire assistance process is open and transparent, and will update the compensation progress in real time. This move fully demonstrates LBank’s determination to promote the continued development of innovative on-chain Meme projects.
This is not the first time that LBank has shown its support for the crypto community. In March 2024, LBank launched an assistance program for SLERF. In the past year, LBank has successfully launched high-quality projects such as GOAT, MOODENG, AI16Z and VIRTUAL, and established strategic partnerships with institutions such as GMGN.AI to continue exploring and tapping the potential of the Meme project.
The assistance to DEXX once again highlights the important role of centralized cryptocurrency trading platforms in maintaining market stability and promoting innovation and development. This also reflects LBanks belief in the power of innovation and its determination to promote the development of the crypto market and create value.
About LBank
Founded in 2015, LBank is a leading global cryptocurrency trading platform with 15 million+ registered users covering 210+ countries and regions. With a daily trading volume of over $67 billion and supporting over 800 cryptocurrencies, LBank is committed to providing users with a diversified and convenient trading experience. Through innovative trading solutions, LBank helps users achieve an average return of over 130% when new assets are listed.
As a pioneer in the Meme coin market, LBank has launched 240+ mainstream Meme coins and 40+ Golden Dog Meme coins, and the increase of multiple Golden Dog Meme coins has exceeded 500%. With the industry-leading number of Meme coins launched, LBank has become an ideal platform for Meme coin investors.
