CoinSWOP Hack

TOTAL LOST $21K
Low Rugpull ethereum

What happened

The contract owner invoked setMigrator() function at:

https://etherscan.io/tx/0xf73a10ee…9007f1

CoinSWOPMaster smart contract was set as migrator. The smart contract owner called migrate() functions 11 times to withdraw the user's LP tokens with the help of infinite approval. LP tokens were migrated to an unverified smart contract that received real LP tokens and returned fake ones. Then real LP tokens went to the contract deployer as the final recipient. Migrate transaction example:

https://etherscan.io/tx/0x5b19f1e3…48c592

The final recipient is getting LP tokens:

https://etherscan.io/tx/0xe6543f5b…3c5aea

LP tokens were exchanged for ETH and deposited to the Tornado Cash mixer at these transactions:

https://etherscan.io/tx/0xd6584b95…f8578c

https://etherscan.io/tx/0x90bd78b4…05b47c

https://etherscan.io/tx/0x5d530f23…08667d

6.8 ETH were transferred to some external wallet:

https://etherscan.io/tx/0xf8759517…b48867

Case & protocol details

Classification CeFi
Protocol Type Exit Scam/Rugpull
Affected asset / contract cSWOP
Official Website coinswop.org/
Protocol Twitter/X @Coin_Swop

Evidence & learning

Sources and on-chain records

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