Incident Overview
Flare Token was possibly rugpulled. An EOA address was able to remove funds from the PancakeSwap pool for a total of 17,010,503 $USD after claiming roughly 4,000,000,000 $FLARE tokens from a vault contract.
Flare Token is a BEP20 token trading on PancakeSwap and can't be confused with Flare Network with the $FLR token symbol. An EOA address called a withdrawProfit() function on a contract with an unverified source code and received 3,973,277,600 $FLARE tokens. The part of the claimed tokens was used to perform a swap and drain of liquidity.
The exploiter profited 17,010,503 $USD and transferred funds to another EOA address.
Scammer addresses:
https://bscscan.com/address/0xa0a613ca…53d898
https://bscscan.com/address/0xE55D77F7…68Eb20
Malicious transaction:
https://bscscan.com/tx/0xa0913502…51c027
Liquidity drain transaction:
https://bscscan.com/tx/0x2af9b1c4…1c1d51
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 Flare Token, these are the critical security checks that could have prevented this incident (November 2022).
- 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 TrialPost-Incident Timeline
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2022-11-17
On 17 November, an EOA address that received the funds transferred all the stolen amount through TornadoCash.
Sources & References
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