How much was lost in the JNB Token hack?

The JNB Token hack resulted in $106K in losses on February 28, 2023.

What attack technique was used in the JNB Token exploit?

The JNB Token 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.

JNB Token Hack

TOTAL LOST $106K

Low Feb 28, 2023 Rugpull

Affected Chain 2023 Incident surface

Recovered - No recovery reported

All-Time Rank #1511 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

Quick Summary

JNB token was rugpulled by the initial token holders for 106,497 $USD

Details of the Exploit

JNB is a BEP20 token trading on PancakeSwap. The token's deployer-related addresses drained the PancakePool for 106,497 $USD in total. Two drainers' malicious actions dropped a token price by more than 98%.

All the siphoned funds were transferred to multiple EOA addresses.

Block Data Reference

Scammer addresses:

https://bscscan.com/address/0x024ea85a…ccd0e8

https://bscscan.com/address/0xd050e636…779464

Draining transaction examples:

https://bscscan.com/tx/0x0bc8451a…00a5b5

https://bscscan.com/tx/0x8c3425a1…3a7965

Incident Report

Protocol / Project JNB Token

Date of Incident February 28, 2023

Attack Technique Rugpull

Classification Token

Primary Source View Post-Mortem

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token JNB

Official Website www.jinbitoken.io

Protocol Twitter/X @JinbiToken

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 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 JNB Token's contract logic - root cause: token

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 JNB Token, these are the critical security checks that could have prevented this incident (February 2023).

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
Source 1 https://twitter.com/CertiKAlert/status/1630479724936921088?s=20

Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause Token
Year 2023

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