DeriTrade Hack

TOTAL LOST $13K
Low Rugpull

Summarize with AI

ChatGPT Perplexity Claude Grok
Affected Chain 2023 Incident surface
Recovered - No recovery reported
All-Time Rank #1920 By amount stolen
Protocol Type NFT Marketplace Target category

Incident Overview

Quick Summary

DeriTrade, a fake trading platform on Binance Smart Chain, was exploited by the deployer on August 2, 2023. The exit scam involved the minting of large amounts of DUSD (the project's stablecoin), followed by the removal of liquidity from the LP pool using the newly minted tokens. The total loss was 13,411 $USD or 54.52 BNB.

Details of the Exploit

The deployer initiated the attack by minting a large number of DUSD tokens. They then utilized these tokens to drain the liquidity from the LP pool. The stolen funds were transferred through several EOA addresses before being deposited into TornadoCash to further obfuscate the trail.

This careful orchestration of transactions suggests a premeditated attack on the platform.

Block Data Reference

Deployer Address:

https://bscscan.com/address/0xd59d7149…1f8783

Scammer Address:

https://bscscan.com/address/0xb4e9a492…187ef6

Liquidity Removal Transaction:

https://bscscan.com/tx/0xda15c17b…8f5b2c

Minting Transaction:

https://bscscan.com/tx/0x24595121…f2a3be

TornadoCash Deposit Transaction:

https://bscscan.com/tx/0x09bd662f…d488e2

Incident Report

Protocol / Project DeriTrade
Date of Incident
Attack Technique Rugpull
Classification Stablecoin
Primary Source View Post-Mortem

Protocol Information

Protocol Type NFT Marketplace
Affected Token DUSD
Official Website www.deritrade.com
Protocol Twitter/X @deritrade
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 DeriTrade's contract logic - root cause: stablecoin
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 DeriTrade, these are the critical security checks that could have prevented this incident (August 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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