Incident Overview
CZ token experienced a rugpull by the deployer who removed liquidity worth 454,168 USD from PancakeSwap pool, resulting in a total loss of 1,934.17 WBNB.
CZ is a BEP20 token trading on PancakeSwap. On Nov 24, 2023, the deployer performed an exit scam by removing liquidity from the LP pool through multiple transactions, selling a large number of tokens. The stolen funds, amounting to 454,168 USD (1934.17 WBNB), were transferred to another EOA and subsequently distributed among multiple addresses.
Deployer Address:
https://bscscan.com/address/0xCC78A249…C2f66C
Scammer Address:
https://bscscan.com/address/0x638Fbf48…0C7a85
Liquidity Removal Transactions:
https://bscscan.com/tx/0xd020a4e1…80a18e
https://bscscan.com/tx/0x01f90355…1110b9
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 Changpeng Zhao, these are the critical security checks that could have prevented this incident (November 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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