How much was lost in the Bitcoin BSC hack?

The Bitcoin BSC hack resulted in $36K in losses on October 10, 2023.

What attack technique was used in the Bitcoin BSC exploit?

The Bitcoin BSC 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.

Bitcoin BSC Hack

TOTAL LOST $36K

Low Oct 10, 2023 Rugpull

Affected Chain 2023 Incident surface

Recovered - No recovery reported

All-Time Rank #1792 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

Quick Summary

BTCBSC token project experienced a rugpull exit scam, with the deployer removing liquidity worth 48,617 USD from PancakeSwap pool, resulting in a total loss of 35,813 USD.

Details of the Exploit

BTCBSC is a BEP20 token trading on PancakeSwap. On Oct 3, 2023, the deployer performed an exit scam by removing 235.87 WBNB, equivalent to 48,617 USD, from the liquidity pool. Following the liquidity removal, the stolen funds amounting to 35,813 USD were lost, the stolen funds still remain in the deployer's wallet.

Block Data Reference

Deployer Address:

https://bscscan.com/address/0xA51EA8e0…3780Df

Liquidity Removal Transaction:

https://bscscan.com/tx/0x39044759…158310

Incident Report

Protocol / Project Bitcoin BSC

Date of Incident October 10, 2023

Attack Technique Rugpull

Classification Token

Primary Source View Post-Mortem

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token BTCBSC

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 Bitcoin BSC'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 Bitcoin BSC, these are the critical security checks that could have prevented this incident (October 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/CertiKAlert/status/1711778499273359683

Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause Token
Year 2023

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