How much was lost in the LaserSwap Cash hack?

The LaserSwap Cash hack resulted in $1.3M in losses on March 15, 2021.

What attack technique was used in the LaserSwap Cash exploit?

The LaserSwap Cash 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.

LaserSwap Cash Hack

TOTAL LOST $1.3M

Medium Mar 15, 2021 Rugpull binance

Affected Chain binance Incident surface

Recovered - No recovery reported

All-Time Rank #781 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

The contract deployer added initial liquidity at:

https://bscscan.com/tx/0xf893069f…e100bf

The contract deployer transferred LP tokens to the external wallet at:

https://bscscan.com/tx/0xe2ef4781…c46000

https://bscscan.com/tx/0x7c0f2701…dce46f

The LP token recipient deposited tokens to the MasterChef, which was behind the upgradeable proxy contract. All deposited LP tokens were migrated by the external wallet at this transaction:

https://www.bscscan.com/tx/0xc4b822ce…5bce7a

The liquidity was removed by the external wallet at:

https://www.bscscan.com/tx/0x5a0f5394…95b1b6

https://www.bscscan.com/tx/0xea7abc74…d668df

The stolen funds were distributed between multiple wallets at:

https://explorer.bitquery.io/ru/bsc/txs/transfers?sender=0x94e981a4…7ddbd8&currency=0xe9e7cea3…087d56

Incident Report

Protocol / Project LaserSwap Cash

Date of Incident March 15, 2021

Affected Chain(s) binance

Attack Technique Rugpull

Classification Exchange (DEX)

Primary Source View Post-Mortem

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token LAS

Official Website www.laserswap.cash/

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 binance smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in LaserSwap Cash's contract logic - root cause: exchange (dex)

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 LaserSwap Cash, these are the critical security checks that could have prevented this incident (March 2021).

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://www.laserswap.cash/
02
Web Archive https://web.archive.org/web/20210311061751/https://www.laserswap.cash/

Threat Assessment

Severity Level

MEDIUM

Attack Vector Rugpull
Root Cause Exchange (DEX)
Year 2021

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