Incident Overview
Fake Polyhedra Network on the Ethereum chain was rug-pulled by the deployer with a loss of about 400k $USD.
The fake token deployer performed an exit scam via token dumping on the DEX (Uniswap V2). Deployer remover most liquidity in 2 transactions.
Scammer:
https://etherscan.io/address/0x99514f84…d4f8f7
Remove liquidity:
https://etherscan.io/tx/0xc36e6623…e70a5c
https://etherscan.io/tx/0x1242bb80…d6a704
Incident Report
Protocol Information
Market Context at Time of Hack
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 Fake Polyhedra Network, 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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