Incident Overview
Meme token $POPE conducted a rug pull on May 26th, resulting in the theft of approximately $100,000 (~54 ETH) from holders.
The team behind $POPE swapped 10,000,000,000,000,000,000 tokens for 54.4 Ether and proceeded to sell the ETH, leaving investors with no value. They then distributed the obtained funds to various wallets in an attempt to obfuscate their tracks and avoid accountability.
Tx:
https://etherscan.io/tx/0xe5c2dac1…879744
Address:
https://etherscan.io/address/0xc74d2fe1…fc539c
Incident Report
Protocol Information
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.
What Auditors Should Check
If you're auditing a protocol with similar architecture to POOPEPE token, these are the critical security checks that could have prevented this incident (May 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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