How much was lost in the AssetClub hack?

The AssetClub hack resulted in $84K in losses on November 28, 2023.

What attack technique was used in the AssetClub exploit?

The AssetClub 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.

AssetClub Hack

TOTAL LOST $84K

Low Nov 28, 2023 Rugpull

Affected Chain 2023 Incident surface

Recovered - No recovery reported

All-Time Rank #1590 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

Quick Summary

ACC token was rugpulled by scammer, removing liquidity worth 83,874 USD from UniSwap pool.

Details of the Exploit

ACC is an ERC20 token trading on UniSwap. On Nov 28, 2023, the scammer conducted an exit scam by removing liquidity from the LP pool. The scammer removed 41.55 WETH, equivalent to 83,874 USD, and transferred the stolen funds to another EOA address using a malicious smart contract.

Block Data Reference

Deployer Address:

https://etherscan.io/address/0xa66E2E1f…09E02d

Scammer Address:

https://etherscan.io/address/0x95a6FcB5…79C180

Liquidity Removal Transaction:

https://etherscan.io/tx/0xe53a9d87…c56407

Malicious Contract:

https://etherscan.io/address/0x8B544F47…eF8cca

Incident Report

Protocol / Project AssetClub

Date of Incident November 28, 2023

Attack Technique Rugpull

Classification Token

Primary Source View Post-Mortem

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token ACC

Team Anonymous

Source Code Verified On-Chain

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 AssetClub'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 AssetClub, these are the critical security checks that could have prevented this incident (November 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

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

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Sources & References

01
Source 1 https://twitter.com/PeckShieldAlert/status/1729452030748701031?s=20

Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause Token
Year 2023

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