How much was lost in the BNBpay hack?

The BNBpay hack resulted in $54K in losses on September 21, 2023.

What attack technique was used in the BNBpay exploit?

The BNBpay 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.

BNBpay Hack

TOTAL LOST $54K

Low Sep 21, 2023 Rugpull

Affected Chain 2023 Incident surface

Recovered - No recovery reported

All-Time Rank #1700 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

Quick Summary

BNBpay token project experienced a rugpull, with the deployer profiting for 53,973 USD on Sep 21, 2023.

Details of the Exploit

BNBpay is a BEP20 token trading on PancakeSwap. The deployer performed an exit scam by removing liquidity from the LP pool. After the exploit, the stolen funds were transferred to another EOA address and then deposited into TornadoCash, making it difficult to trace the funds.

Block Data Reference

Deployer Address:

https://bscscan.com/address/0xcE389248…578D9d

Scammer Address:

https://bscscan.com/address/0x9D323c34…7cCf15

Liquidity Removal Transaction:

https://bscscan.com/tx/0x8e99cb2f…2a5b1f

Tornado Cash Deposit Transaction: 0x5ffa17d2…fb245e

Incident Report

Protocol / Project BNBpay

Date of Incident September 21, 2023

Attack Technique Rugpull

Classification Token

Primary Source View Post-Mortem

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token BNBpay

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 BNBpay'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 BNBpay, these are the critical security checks that could have prevented this incident (September 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://hacked.slowmist.io/?c=BSC

Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause Token
Year 2023

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