Incident Overview
Boost Coin project rugpulled, deployer removed liquidity worth 593,267 USD directly from the token contract on Sep 06, 2023.
Boost Coin is an ERC20 token that experienced an exit scam on Sep 06, 2023. The deployer of the token used a privileged function, withdrawETH, to remove liquidity directly from the token's contract. The attacker removed 363.4 ETH, which is approximately 593,267 USD at current market rates.
The stolen funds were transferred through various EOA addresses before being deposited into KuCoin.
Deployer Address:
https://etherscan.io/address/0x413217Ac…6552eA
Liquidity Removal Transaction:
https://etherscan.io/tx/0x68ee5c57…43d991
Incident Report
Protocol Information
Market Context at Time of Hack
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 Boost Coin, 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
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