Cryptocurrency

Tweet by zachxbt

2024-02-26 [vendor] Dechat token launch error [chain] bsc
Primary Source ↗
Blockchain(s) Bsc

Incident Details

The user experience in crypto is apparently so bad that platforms can’t even keep their own tokens straight. A web3 messaging project, Dechat, announced with some fanfare that the Dechat token would begin trading. In their social media post, however, they erroneously linked to the wrong token on the PancakeSwap cryptocurrency exchange. Instead of linking to the token they had developed, they included a link to a honeypot: that is, a malicious smart contract that aims to entice people to deposit funds that can then be stolen.“You clowns literally linked a honeypot for your own token launch,” wrote crypto sleuth zachxbt. Some users replied that they had lost money to the erroneous link.Dechat quickly removed the post and created a new one with a corrected link. They also promised to reimburse users who had lost money to the honeypot.

Technical Details

Initial Attack Vector
On-chain theft (attributed by zachxbt)
Vendor / Product
Dechat token launch error

Timeline

  1. 2024-02-26 Breach occurred
  2. 2024-02-26 Publicly disclosed