Incident Overview
Significant dumping occurred with the FA token, where the deployer withdrew 515k FA tokens, later selling them for approximately 255k USDT.
On the Binance Smart Chain (BSC), a notable rug pull event unfolded with FA token. The deployer of the token contract executed a transaction resulting in the withdrawal of approximately 515k FA tokens from the protocol's treasury. Subsequently, these tokens were swiftly sold on the market.
Upon analysis, it was determined that the deployer's actions led to a significant profit of $341k, factoring in the initial liquidity provided.
Exploiter:
https://bscscan.com/address/0xb6a0bc69…87e515
Withdraw tx:
https://bscscan.com/tx/0xd5d4d818…f74a2a
Sell TX:
https://bscscan.com/tx/0xa6249bfb…245a2a
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 FA, these are the critical security checks that could have prevented this incident (March 2024).
- 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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