Fake PIToken Hack

TOTAL LOST $490K
Low Rugpull

What happened

Quick Summary

On May-14-2024 , the Fake PI Token token was rug pulled, resulting in losses of approximately $490k USD.

Details of the Exploit

On May 14th, 2024, 0x85A78 performed massive dumping via exactInputV2Swap function. In multiple transactions uni v2 pool with WMATIC was mostly drained. After that funds were dispersed and partially withdrawn to OKX hot wallets.

Block Data Reference

Scammer:

https://polygonscan.com/address/0x85a78cbe…e455fd

Example of OKX fundings:

https://polygonscan.com/tx/0x52e5dd3f…973bbb

Dump txs:

https://polygonscan.com/tx/0x26f791f6…fbac60

https://polygonscan.com/tx/0x88db8da1…14d7b9

https://polygonscan.com/tx/0xf4325fbf…38f146

https://polygonscan.com/tx/0x4a8ddb33…3ab79e

https://polygonscan.com/tx/0xb7b5a62d…886f4c

Case & protocol details

Classification Token
Protocol Type Exit Scam/Rugpull
Affected asset / contract PI
Official Website pipeflare.io/
Protocol Twitter/X @PipeFlare

Evidence & learning

Sources and on-chain records

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