Cryptocurrency [loss] $442,000

Tweet by CertiK Alert

2022-08-07 [vendor] "Saxon James Musk" coin [chain] bsc
Primary Source ↗
Financial Loss $442,000 (442,000 USD)
Blockchain(s) Bsc

Incident Details

Who could have predicted that the shitcoin named after one of Elon Musk’s 16-year-old sons could turn out to be a scam? Well, besides the people who fell for previous rug pulls of tokens based on the Musk family, such as Baby Elon coin in June or the Baby Musk Coin in February…The project developer suddenly sold off their share of the coin for around 1355 WBNB (~$442,000), sending the coin price plummeting by more than 68% as a result.

Total loss estimated at $442,000.

Technical Details

Initial Attack Vector
Exit scam / rug pull
Vendor / Product
"Saxon James Musk" coin

Timeline

  1. 2022-08-07 Breach occurred
  2. 2022-08-07 Publicly disclosed