Incident Overview
Large quantities of EMD funds were sent one after the other barely 13 hours after the official project launch. At that time, the SlowMist team, a Blockchain security company, issued a security warning, stating that EMD possibly ran away with the user's funds. EMD's EOS account, emeraldmine1, had already sent 787,000 USDT, 490,0000 EOS, and 56,000 DFS to the sji1111111 account at the time.
According to the mainnet deployment record, the project has upgraded the contract after its release.
Incident Report
Protocol Information
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 Emerald Mine, these are the critical security checks that could have prevented this incident (September 2020).
- 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.
Free TrialSources & References
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de.fi Analysis https://t.me/defiyield_ann/69
Learn to Prevent the Next Emerald Mine
The Emerald Mine hack is one of many attacks that skilled auditors are trained to detect before deployment. Master real exploit patterns and defense techniques with hands-on Web3 security training.