Incident Overview
BlockGPT token experienced a rugpull, the scammer was able to withdraw 816 $BNB from the presale pool.
BlockGPT is a BEP20 token trading on PancakeSwap. The project creators deployed a presale contract that had malicious functionality to withdraw liquidity from the contract. The malicious contract had unverified source code.
The scammer withdrew 816 $BNB from the contract which is worth 254,592 $USD at the moment. 800 $BNB was transferred through TornadoCash at the end.
Scammer address:
https://bscscan.com/address/0x650c6ba1…461954
Funds holder address:
https://bscscan.com/address/0x45da92f7…4a5e04
Draining transaction:
https://bscscan.com/tx/0x32e59506…360fe2
TornadoCash transfer example:
https://bscscan.com/tx/0x72829d55…a3c128
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 BlockGPT, these are the critical security checks that could have prevented this incident (May 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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