SLS Rug Pull

Reported loss $41K
Rugpull

What happened

Quick Summary

SLS project's token GSLS lost the price by more than 85% after the token deployer-related EOA address drained liquidity. The scammer made a profit of 41,122 $USD.

Details of the Exploit

GSLS is the BEP20 token trading on PancakeSwap. On 3rd October, the token deployer sent 40,000 $GSLS to EOA address. The address received 25,000 $BUSD from another address and added liquidity with them and received $GSLS to the liquidity pool on PancakeSwap.

Consequently, the scammer made many trades with small amounts at the beginning. When the initial token holder sent 360,000 $GSLS to the scammer, the tokens were sold immediately, which leads to the token price dump and liquidity draining for the total amount of 41,122 $BUSD.

Block Data Reference

Scammer address:

Address 0x89cc…21ab

Token deployer:

Address 0xf609…a05d

Initial token holder:

Address 0xaa06…2f7a

Liquidity pool:

Address 0x84f9…DfF3

Protocol details

Classification Token
Protocol Type Exit Scam/Rugpull
Affected asset / contract GSLS

Evidence

Same attack technique

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