MYX Finance Hack

TOTAL LOST $120K
Low Rugpull

Summarize with AI

ChatGPT Perplexity Claude Grok
Affected Chain 2023 Incident surface
Recovered - No recovery reported
All-Time Rank #1472 By amount stolen
Auditors 3 Prior security audits

Incident Overview

Quick Summary

QMYX token was rugpulled by the scammer removing liquidity worth 119,888 USD from UniSwap.

Details of the Exploit

QMYX is an ERC20 token trading on UniSwap. On Dec 01, 2023, the scammer removed liquidity from the LP pool, stealing 57.17 WETH, which is equivalent to 119,888 USD. The stolen funds remain in the scammer’s address as WETH as of Dec 12, 2023.

Block Data Reference

Deployer Address:

https://etherscan.io/address/0xc405BCbe…706fE7

Scammer Address:

https://etherscan.io/address/0x76345889…02168d

Liquidity Removal Transaction:

https://etherscan.io/tx/0xc5529e30…e83190

Incident Report

Protocol / Project MYX Finance
Date of Incident
Attack Technique Rugpull
Classification Token
Primary Source View Post-Mortem

Protocol Information

Protocol Type Derivatives
Affected Token QMYX
Official Website app.myx.finance/referrals?invitationCod…
Protocol Twitter/X @MYX_Finance
Team Anonymous
Source Code Verified On-Chain

Market Context at Time of Hack

Token Categories
DeFi Derivatives BNB Chain Ecosystem Binance Alpha Binance Wallet IDO Binance Alpha Airdrops Binance Ecosystem Binance Listing
Protocol Links
GitHub Discord

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 MYX Finance'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
Audited by Audit Report 1, Audit Report 2, Audit Report 3 — still lost $120K. Prior audits don't guarantee safety, especially after post-audit code changes.

If you're auditing a protocol with similar architecture to MYX Finance, these are the critical security checks that could have prevented this incident (December 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.

Free Trial

Security Audit History

Sources & References

Browse all hacks

These hacks used the same attack technique. Understanding the pattern helps prevent future exploits.

Pepe Trump $38K
Rugpull
NYC Memecoin $3.4M
Rugpull
OracleBNB $80K
Rugpull
Aqua $4.7M
Rugpull
Fake LAYER $465K
Rugpull
Gifto $10.0M
Rugpull

Learn to Prevent the Next MYX Finance

The MYX Finance hack is one of many attacks that skilled auditors are trained to detect before deployment. Master real exploit patterns and defense techniques with hands-on Web3 security training.

Start Free Trial Browse Attack Library
Recreate exploit patterns safely Free Trial