Incident Overview
The BabyShiba2.0 token recently experienced a rug pull incident, leading to a significant loss of approximately $70k USD.
The project team behind the BabyShiba2.0 token executed a rug pull by performing token dumping at the PancakeSwap V2 pool. As a result, they successfully withdrew and transferred a total of 293 BNB, equivalent to $70k USD, distributing the ill-gotten funds across four different wallets.
This sudden liquidity removal and token transfer event caught the community off guard, causing substantial financial losses to investors and holders of BabyShiba2.0 token.
Scammer address:
https://bscscan.com/address/0x94d471c6…166a15
Liquidity Removal tx:
https://bscscan.com/tx/0xf574ab03…cda644
Incident Report
Protocol Information
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 BabyShiba2.0, these are the critical security checks that could have prevented this incident (August 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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