How much was lost in the HEGE coin hack?

The HEGE coin hack resulted in $400K in losses on June 11, 2022.

What attack technique was used in the HEGE coin exploit?

The HEGE coin exploit utilized Rugpull. 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.

HEGE coin Hack

TOTAL LOST $400K

Low Jun 11, 2022 Rugpull

Affected Chain 2022 Incident surface

Recovered - No recovery reported

All-Time Rank #1067 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

Quick Summary

The $Hege token was rugpulled by the token creator. The token creator took away approximately $400k in profit.

Details of the Exploit

The $HEGE token creator prepared the rugpull by funnelling $HEGE token to this address https://bscscan.com/address/0xecc5df61…02ece2 through a number of addresses.

Below some example transactions of the funding;

1) https://bscscan.com/tx/0xbc26b7d9…dcd428

2) https://bscscan.com/tx/0x475f5768…2f01af

The token creator then proceeded to dump the $HEGE against $USDT on pancake swap in a series of transactions ultimately netting him approximately $400k in funds.

Example transactions;

https://bscscan.com/tx/0x338d1db9…ef9232

https://bscscan.com/tx/0x713acac7…5958fe

As the time of this writing information on this case is scarce. More sources will be added if the case should develop.

Block Data Reference

Scammers address:

https://bscscan.com/address/0xecc5df61…02ece2

Transactions that proof funding of Scammers address:

https://bscscan.com/tx/0x40ef73f2…fc3e5a

https://bscscan.com/tx/0x351e50da…5b17d5

https://bscscan.com/tx/0x0926208a…cbcf12

https://bscscan.com/tx/0xdd9d79f1…b614a7

https://bscscan.com/tx/0x475f5768…2f01af

https://bscscan.com/tx/0x816402e5…0e16f2

https://bscscan.com/tx/0xb6333989…6cbed4

https://bscscan.com/tx/0x314f57f4…fc0cb9

https://bscscan.com/tx/0x23ffc6c2…ed7c7c

https://bscscan.com/tx/0xbc26b7d9…dcd428

Incident Report

Protocol / Project HEGE coin

Date of Incident June 11, 2022

Attack Technique Rugpull

Classification Other

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token HEGE

Protocol Twitter/X @HedgeCoinDev

Team Anonymous

Source Code Verified On-Chain

Market Context at Time of Hack

Token Categories

Mineable

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 rugpull 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 HEGE coin's contract logic - root cause: other

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? Hard to catch — private key / OpSec failures are outside smart contract audit scope

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

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Sources & References

01
Web Archive https://web.archive.org/web/20220611234538/https://twitter.com/C…

Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause Other
Year 2022

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