Sei (SEI) Ecosystem Shaken After $572K Filament DEX Exploit Revealed

• Filament DEX on the Sei blockchain lost approximately $572K due to a self-liquidation exploit on April 6, 2025.
  
• Filament is collaborating with blockchain experts and authorities to trace stolen funds via Symbiosis Bridge and FixedFloat exchange.
  
• Immunefi reports $1.64 billion in Q1 2025 crypto losses, with $106.8 million from DeFi exploits across 38 incidents.
  

Filament, a decentralized exchange (DEX) built on the Sei blockchain, suffered a devastating exploit on April 6, 2025, resulting in the loss of approximately $572,000. The breach occurred between 12:00 AM and 4:00 AM UTC, exploiting self-liquidation mechanisms and large order placements to manipulate prices and extract funds.

According to Filament’s official statement, the platform had nearly $680,000 in user deposits before the incident. The attackers orchestrated coordinated trades across several accounts, triggering artificial liquidations and unauthorized fund withdrawals. Immediately after detecting the exploit, Filament paused all trading and withdrawals to contain the damage.

Filament Collaborates with Blockchain Experts on Sei Exploit

Filament is collaborating with blockchain security experts, forensic analysts, and law enforcement agencies to trace stolen funds after an exploit. The attackers used the Symbiosis cross-chain bridge to transfer assets to the FixedFloat exchange. Wallet addresses linked to the breach have been shared with relevant authorities to assist in the investigation.

The Filament team has been working tirelessly since the attack, with co-founder Abhitej confirming their efforts via social media. He assured users that the team is conducting real-time analysis of system logs, engaging with legal experts, and preparing a roadmap to reimburse affected liquidity providers, particularly those in the COMB Pool.

Abhitej also outlined plans to refund liquidity providers, ensure transparent communication, and work closely with the Sei ecosystem. Notably, Sei trades around $0.1371, increasing interest in its developments. Abhitej expressed gratitude for user support and promised a full post-mortem report, along with updates on security architecture and a migration plan for affected users.

Immunefi Reports $1.64 Billion in Crypto Losses

Filament has publicly offered a 10% white hat bounty—approximately $57,000—urging the attacker to return the remaining funds. The team remains open to negotiations, provided the exploiter cooperates fully. This strategy reflects a growing trend in DeFi platforms to encourage exploiters to return stolen assets without legal battles.

The incident adds to a grim trend for the crypto sector in 2025. Immunefi’s Q1 report revealed $1.64 billion in total crypto losses, with DeFi platforms losing $106.8 million across 38 incidents. Centralized platforms, despite fewer breaches, experienced greater losses, including a $1.5 billion hit from just two attacks. Hyperliquid also faced a $10.63 million loss in March due to a similar self-liquidation exploit.

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