Incident Overview
Fake ArchWay token deployer executed a rugpull, causing a total loss of 207,371 $USD.
ArchWay is a fake BEP20 token, that was rugpulled by a token deployer. In two transactions, the deployer removed liquidity leading to a loss of 207,371 $USD. The deployer orchestrated multiple simultaneous transactions before draining the pool, intending to increase trade volume and manipulate $ARCH token prices.
Half of the stolen funds were transferred to another EOA, while the rest remain at the scammer's original address.
Scammer Address:
https://bscscan.com/address/0xd2010607…a8003e
Liquidity Removal Transactions:
https://bscscan.com/tx/0xc5d1ad9e…0d3e41
https://bscscan.com/tx/0xbb2aa808…b08784
Funds Transfer Transaction:
https://bscscan.com/tx/0x730f5fc7…d5a4cd
Incident Report
Protocol Information
Market Context at Time of Hack
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.
What Auditors Should Check
If you're auditing a protocol with similar architecture to ArchWay Fake, these are the critical security checks that could have prevented this incident (June 2023).
- 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
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