Slicer Finance Rug Pull

Reported loss $14K
Ethereum
Rugpull

What happened

Slicer Finance (SLS) was an Ethereum token launched at the end of December 2020; De.Fi's REKT database describes it as a fair launch with no initial liquidity added by the deployer. The verified SLS contract lets its governor (gov, the deployer at construction) or the configured liquidityPool address mint any amount of SLS to any address, with no cap. On 2021-01-01 at 11:18 UTC the deployer 0xB6eAFC4f…5B6840 called mint() to create 100 trillion SLS in its own wallet (tx 0xcb78fcc5…e02cf6), and four minutes later swapped that amount into the Uniswap V2 SLS pool for about 19.64 WETH (tx 0xc4313139…800185).

Later that day a #RUGDETECTIVES post on X reported that the team wallet, which had no lock-up, dumped 19.9 ETH and that the project's Telegram had been deleted. De.Fi's REKT database lists about $14,346 lost.

How it happened

  1. The constructor makes the deployer the governor: gov = msg.sender;.
  2. mint(address to, uint256 amount) is guarded only by onlyMinter, which allows msg.sender == liquidityPool || msg.sender == gov; _mint adds amount to _totalSupply and to the recipient's balance with no maximum supply.
  3. The governor can also point liquidityPool at any address through _setLiquidityPool, adding a second address that can mint.
  4. On 2021-01-01 at 11:18 UTC the deployer called mint() with itself as to, creating 100 trillion SLS (tx 0xcb78fcc5…e02cf6).
  5. At 11:22 UTC the deployer sold the same amount through Uniswap V2 Router 2 with swapExactTokensForTokens, receiving about 19.64 WETH from the SLS pool (tx 0xc4313139…800185).
  6. Later on 2021-01-01 an X post tagged #RUGDETECTIVES reported the team wallet dumped 19.9 ETH and the Telegram group was deleted.

Protocol details

Classification NFT
Protocol Type Exit Scam/Rugpull
Affected asset / contract SLS
Protocol links Website @slicerfinance

Evidence

Same attack technique

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