What happened
Quick Summary
On the 12th of April IWR on the BSC chain was rugged for approx 34k USD.
Details of the Exploit
The team responsible for managing liquidity in the IWR protocol executed a liquidity removal scam, causing the project to suffer significant losses. The contract deployer removed a significant amount of liquidity pool (LP) and sold off the token, leading to a sharp drop of around 90% in its initial price.
Block Data Reference
Scammer:
https://bscscan.com/address/0x1e3ab5c4…08e244
Liquidity removal:
https://bscscan.com/tx/0x3f1b412d…e599b9
https://bscscan.com/tx/0x17d54b1e…8838c6
Case & protocol details
Classification
Token
Protocol Type
Exit Scam/Rugpull
Affected asset / contract
IWR
Evidence & learning
Sources and on-chain records
- report Report twitter.com
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