Incident Overview
Satt King project rugpulled by the initial token holder which removed 52,769 $USD worth liquidity.
Satt King is a BEP20 token trading on PancakeSwap. The token experienced a significant slippage and its price to plummet by over 99%. Investigation revealed that the project was rugpulled by its initial token holder, which received 100,000,000,000 $SattKing tokens when the token contrac was created.
Consequently, the scammer removed liquidity 52,769 $USD worth of $BNB. The funds were transferred to multiple EOA addresses.
Scammer address:
https://bscscan.com/address/0xd6790300…efd773
Malicious transaction:
https://bscscan.com/tx/0x82aedda6…32bfb9
Transfer transaction examples:
https://bscscan.com/tx/0x900e6ac6…b92242
https://bscscan.com/tx/0x47eec68c…2c1503
Incident Report
Protocol Information
Market Context at Time of Hack
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 Satt King, these are the critical security checks that could have prevented this incident (February 2023).
- 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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