LGT Rug Pull

What happened

LGT (LGT) was a BEP-20 token on BNB Chain paired with USDT on PancakeSwap. Its constructor minted the entire 1,000,000,000 LGT supply to one hard-coded address, 0xF975b22D…eeDe0D, which is also the fundAddress and is exempt from every fee and trading restriction. The code does not block sells; it leaves one wallet able to sell a large share of the supply into the pool.

According to the record, that wallet sent 500,000,000 LGT to 0xe36f1501…be2ef9, which sold them into the pool for about 35,000 USDT. CertiK's alert of 2022-10-12 reported an exit scam on this contract with roughly $35k lost and more than 95% slippage.

How it happened

1. The constructor credits the full supply to ReceiveAddress and sets the same address as fundAddress, adding it to _feeWhiteList.
2. A whitelisted sender skips the 8% transfer fee (four 2% fees), the 99.99% per-transfer cap and the !startTrade gate, so it can sell at any time and in any size.
3. During the first 4 blocks after trading starts, a non-whitelisted swap loses 99% of its tokens to fundAddress through _funTransfer.
4. Auto-liquidity created by swapTokenForFund mints its LP tokens to fundAddress, and any whitelisted caller can sweep tokens held by the contract to fundAddress with claimToken.
5. The owner can also exempt any address from fees with setFeeWhiteList.
6. Per the record, the initial holder sent 500,000,000 LGT (half the supply) to 0xe36f1501…be2ef9 in transaction 0x63bb6386…2cf3d5. That address then sold them into the LGT/USDT pool, taking about 35,000 USDT, and later moved the funds to another address.

Protocol details

Classification Token

Protocol Type Exit Scam/Rugpull

Affected asset / contract LGT

Evidence

• report CertiK Alert on X: exit scam on copycat project LGT twitter.com
• transaction bscscan.com transaction 0x63bb…f3d5 bscscan.com
• address LGT (LGT) verified contract source, BscScan bscscan.com
• address bscscan.com address 0xe36f…2ef9 bscscan.com
• address bscscan.com address 0xf975…de0d bscscan.com
• analysis Sourcify match, chain 56, 0xd21d53fa113dd5769aA1B603C296d6ae15D0044A repo.sourcify.dev
• analysis bscscan.com page 0x55d3…7955 bscscan.com