What happened
ArbiSwap rugpulled users for 138,057 $USD worth of $ETH, after minting 1 trillion $ARBI tokens.
ArbiSwap is a DEX on the layer-2 chain Artibtrum. ArbiSwap was launched on February 24th, 2023, and offered the project's $ARBI token owners 100% of the revenue generated by DEX. The project quickly reached up to 4,400,000 $USD in TVL.
An ArbiSwap developer reported that their own man robbed the DEX, draining 84.6 $ETH from the $ARBI/$USDC pair. In the last 24 hours after the incident, the $ARBI token price dropped by 99%. The attacker has minted nearly 1,000,000,000,000 $ARBI tokens and drained the liquidity for 138,057 $USD.
All the stolen funds were transferred through TornadoCash.
Attacker address:
https://arbiscan.io/address/0x8a60f911…33724f
Attacker's ETH address:
https://etherscan.io/address/0x2a038e10…88a869
Mint transaction:
https://arbiscan.io/tx/0x0c1c5bbc…b40abd
Transfer transactions:
https://arbiscan.io/tx/0x54ca3070…3216e1
https://etherscan.io/tx/0xf1a249b3…d86df8
Case & protocol details
Evidence & learning
Sources and on-chain records
- report Report twitter.com
- analysis Website reference coindesk.com
- analysis Website reference twitter.com
- analysis Website reference crypto.news
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