GOAT Rug Pull

Reported loss $250K
Rugpull

What happened

G.O.A.T Token (G.O.A.T) is a reflection-fee ERC-20 on Ethereum at 0x74EDAf28…D075dB, deployed on 10 December 2021 at 17:01 UTC by 0xdE911F8f…76b741, which received the entire supply. On 9 May 2022 PeckShield reported the price had dropped 78% and that the developers sold large amounts of G.O.A.T for about $250k (~100 ETH), with the profit sitting at 0x5a6d2e01…3c0e24 and 0x8756234a…fc14f2. De.Fi's REKT database lists it as an exit scam/rug pull.

The code also lets the owner set fees with no ceiling and cut the maximum sell to zero.

How it happened

  1. The constructor credits the whole supply to the deployer and marks the owner as excluded from fees, so the owner's own sells are untaxed and unlimited.
  2. setTax(_taxType, _taxSize) lets the owner set any of 14 fee values with no upper limit, including the sell multipliers. Once the combined fee passes 100%, tAmount.sub(tFee).sub(tLiquidity).sub(tOperations) underflows and the transfer reverts.
  3. setMaxSell has no minimum. Sells from non-excluded wallets must pass require(amount < _maxSell, "Max sell exceeds limit"), so a value of zero blocks every holder sale.
  4. lock(time) sets _owner to the zero address so the contract looks renounced, but unlock() returns ownership to _previousOwner once the timer ends.
  5. On 9 May 2022 PeckShield flagged a 78% price drop, then reported the developers had sold large amounts of G.O.A.T for about $250k (~100 ETH).

Protocol details

Classification Token
Protocol Type Exit Scam/Rugpull
Affected asset / contract G.O.A.T
Protocol links Website @GOAT_ERC20

Evidence

Same attack technique

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