How much was lost in the AI DAY: Part 2 hack?

The AI DAY: Part 2 hack resulted in $89K in losses on August 08, 2022.

What attack technique was used in the AI DAY: Part 2 exploit?

The AI DAY: Part 2 exploit utilized Rugpull. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

AI DAY: Part 2 Hack

TOTAL LOST $89K

Low Aug 08, 2022 Rugpull

Affected Chain 2022 Incident surface

Recovered - No recovery reported

All-Time Rank #1571 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

Quick Summary

The $AI token was rugpulled by its team. The team created an AI/WBNB pair to make their token tradable and dumped the $AI token for a profit of $88k.

Scam Alert

Projects $SJMUSK and $AI DAY: Part 2 are related. The scammer addresses involved in this rugpulls:

1) https://bscscan.com/address/0x53acdc0a…e1287f

2) https://bscscan.com/address/0xc37f9554…177f03

This team has many other projects on which they scam people. Stay safe out there!

Details of the Exploit

The creator of the token deployed the contract to the network, where 70M tokens were sent to the contract that created a pair of liquidity on PancakeSwap:

https://bscscan.com/tx/0x95bfd70e…38a848

Then a BNB/AI pair was created through the contract, 70M $AI and 100 $BNB:

https://bscscan.com/tx/0xf3490bde…1cf0a0

After the community invested enough funds into the token, the team exchanged >361k $AI for 373 $BNB, taking a profit of 273 $BNB:

https://bscscan.com/tx/0x3e6b1dba…11cc74

The funds were then sent further to other addresses in order to continue scamming people.

Block Data Reference

Scammer addresses:

- Scammer address, token creator: https://bscscan.com/address/0xc37f9554…177f03

Transactions:

- Creating lp: https://bscscan.com/tx/0xf3490bde…1cf0a0

- Swapping $AI to $BNB taking profit, and destructing contracts: https://bscscan.com/tx/0x3e6b1dba…11cc74

Contracts:

Liquidity creator: https://bscscan.com/address/0x8e0f7910…f312bb

Token contract: https://bscscan.com/address/0xbdeb6D82…f3577C

Contract 3: https://bscscan.com/address/0xf084b554…107fc2

Smart-Contract Abilities

+ It is possible to send $BNB to the address of the token, which will be sent to the address of the token deployer.

Incident Report

Protocol / Project AI DAY: Part 2

Date of Incident August 08, 2022

Attack Technique Rugpull

Classification Token

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token AI

Team Anonymous

Source Code Unverified

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Deep understanding of rugpull and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in AI DAY: Part 2's contract logic - root cause: token

Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block

Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Hard to catch — private key / OpSec failures are outside smart contract audit scope

If you're auditing a protocol with similar architecture to AI DAY: Part 2, these are the critical security checks that could have prevented this incident (August 2022).

Verify all logic paths related to Rugpull are guarded by proper access controls and input validation
Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

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Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause Token
Year 2022

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