How much was lost in the FSWAP hack?

The FSWAP hack resulted in $432K in losses on June 13, 2022.

What attack technique was used in the FSWAP exploit?

The FSWAP exploit utilized Other. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

FSWAP Hack

TOTAL LOST $432K

Low Jun 13, 2022 Other

Affected Chain 2022 Incident surface

Recovered - No recovery reported

All-Time Rank #1051 By amount stolen

Protocol Type Dexs Target category

Incident Overview

FSWAP has been exploited. Approximately 1,751 $BNB was sent to: https://bscscan.com/token/0xbb4cdb9c…bc095c?a=0x0007d40f…c09dfc.

652 $BNB was laundered via TornadoCash.

BlockSec Team made a white hat hacker attack on the return of funds stolen from FSWAP: https://bscscan.com/tx/0xeedacfdf…adf63f

Attacker address:

https://bscscan.com/address/0x000c84c5…3abcfc

https://bscscan.com/address/0x0007d40f…c09dfc

Attacker successful transaction: https://bscscan.com/tx/0xe75e30da…86fcbe

1,751.62 $BNB were transferred to: https://bscscan.com/address/0x0007d40f…c09dfc, then funds were laundered via Tornado.Cash

Repelled attacks by BlockSec:

1) https://bscscan.com/tx/0x70040494…1425b2

2) https://bscscan.com/tx/0xbfb493f6…341e2a

Incident Report

Protocol / Project FSWAP

Date of Incident June 13, 2022

Attack Technique Other

Classification Yield Aggregator

Primary Source View Post-Mortem

Protocol Information

Protocol Type Dexs

Official Website fswap.cc/

Protocol Twitter/X @fswap2021

Team Anonymous

Source Code Verified On-Chain

Market Context at Time of Hack

Token Categories

Ethereum Ecosystem

Protocol Links

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.

Technical Knowledge Deep understanding of other and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in FSWAP's contract logic - root cause: yield aggregator

Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block

Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Likely — with a thorough Other audit checklist and test coverage

If you're auditing a protocol with similar architecture to FSWAP, these are the critical security checks that could have prevented this incident (June 2022).

Verify all logic paths related to Other 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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Sources & References

01
Source 1 https://twitter.com/fswap2021/status/1536379736930263040

Threat Assessment

Severity Level

LOW

Attack Vector Other
Root Cause Yield Aggregator
Year 2022

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