Cryptocurrency
[loss] $1M+
"Beware of Covert Rug Pulls, Exit Scams Driven by Contract Storage Manipulation"
Primary Source ↗Financial Loss
$1.1M
(1,140,000 USD)
Blockchain(s)
Bsc
Incident Details
The IEGT token was created on Binance Smart Chain on July 13. However, its creators “covertly minted a large amount of tokens, primed for a rug pull”, as blockchain security firm SlowMist described it. Although the project reportedly had only 5 million tokens in supply, this allowed the team to sell 1 billion tokens, cashing out approximately $1.14 million in the USDT stablecoin.
Total loss estimated at $1,140,000.
Technical Details
- Initial Attack Vector
- Exit scam / rug pull
- Vendor / Product
- IEGT token
Timeline
- 2023-07-22 Breach occurred
- 2023-07-22 Publicly disclosed