Incident Overview
Phishing Scam Results in $5.17 Million Loss of BEAM Tokens
A victim, identified by the address 0x83664b8a…7739ad, fell prey to a phishing scam resulting in the loss of $5.17 million worth of BEAM tokens. The scam involved the victim signing an 'increaseAllowance' transaction, with the token spender being a GnosisSafe wallet address 0xbaEE148D…d93DBB.
BEAM Token transferring:
https://etherscan.io/tx/0x4f77f93b…8e29b1
Scammers' Addresses:
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 BEAM, these are the critical security checks that could have prevented this incident (February 2024).
- Verify all logic paths related to Phishing are guarded by proper access controls and input validation - see the Phishing Attacks attack class for patterns
- 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.
Free TrialRelated Attack Classes
The technique used in this hack maps to these vulnerability classes in our security curriculum:
Sources & References
Learn to Prevent the Next BEAM
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