Deriswap Hack

TOTAL LOST $3K
Low Rugpull ethereum

What happened

The team merely had a Github profile and a Telegram group, without a full-fledged website and documentation. They posted a bogus Quantstamp audit on Github to confuse the community. The project team pointed to an official report by Andre Cronje about a December conversation between Yearn and Sushi to show even more legit intentions. It's a second time, where anon dev teams use bogus Deriswap contracts to replicate Andre Cronje's work.

The contract deployer added initial liquidity at:

https://etherscan.io/tx/0x794fae34…6893ee

The liquidity was removed by the contract deployer at:

https://etherscan.io/tx/0x794fae34…6893ee

Case & protocol details

Classification Stablecoin
Protocol Type Exit Scam/Rugpull
Affected asset / contract DERI

Evidence & learning

Sources and on-chain records

Practice this exploit pattern safely

Work through hands-on labs covering real exploit mechanics, review techniques, and defensive patterns.