How much was lost in the Link Based hack?

The Link Based hack resulted in — in losses on January 16, 2021.

What attack technique was used in the Link Based exploit?

The Link Based exploit utilized Abandoned. 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.

Link Based Hack

TOTAL LOST —

Jan 16, 2021 Abandoned ethereum

Affected Chain ethereum Incident surface

Recovered - No recovery reported

Same Technique 15 Total incidents

Protocol Type Exit Scam/Abandoned Target category

Incident Overview

A review of the token contract shows low network activity, which didn't lead to significant funds loss for the user in the past. The project is considered abandoned.

Incident Report

Protocol / Project Link Based

Date of Incident January 16, 2021

Affected Chain(s) ethereum

Attack Technique Abandoned

Classification Token

Primary Source View Post-Mortem

Protocol Information

Protocol Type Exit Scam/Abandoned

Affected Token LBD

Official Website www.linkbased.org/

Protocol Twitter/X @LinkBasedApp

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 abandoned and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with ethereum smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in Link Based'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? Likely — with a thorough Abandoned audit checklist and test coverage

If you're auditing a protocol with similar architecture to Link Based, these are the critical security checks that could have prevented this incident (January 2021).

Verify all logic paths related to Abandoned 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/DetectivesRug/status/1342131787292672000

Threat Assessment

Severity Level

UNKNOWN

Attack Vector Abandoned
Root Cause Token
Year 2021

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