Incident Overview
The BabyPepe project on Binance Smart Chain was hit by a rugpull, resulting in a loss of 130,752 $USD.
The deployer of a fake token named BabyPepe removed the liquidity from the PancakeSwap pool, profiting roughly 534 $BNB which equated to 130,752 $USD at the time. The stolen funds were then transferred through a couple of EOA addresses and currently reside in one of them. Please note, this token is a copycat and should not be confused with any other projects that share the same name or token symbol.
Scammer Address:
https://bscscan.com/address/0x05b44e38…b0c9db
Funds Holder Address:
https://bscscan.com/address/0xd70e37f3…7b888e
Liquidity Removal Transaction:
https://bscscan.com/tx/0xafb549a0…2b2a67
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 Baby Pepe Token, 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
Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.
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