Cryptocurrency
[loss] $27M+
"StableMagnet and Others Rugpull $22M in Stablecoin Through Unverified Swap Code"
Primary Source ↗Financial Loss
$27.0M
(27,000,000 USD)
Blockchain(s)
Bsc
Incident Details
StableMagnet creators rugpulled about $27 million from users by swapping out linked library code. Users who had StableMagnet linked to their cryptocurrency wallets saw their wallets drained.
Total loss estimated at $27,000,000.
Technical Details
- Initial Attack Vector
- Exit scam / rug pull
- Vendor / Product
- StableMagnet
Timeline
- 2021-06-23 Breach occurred
- 2021-06-23 Publicly disclosed