How much was lost in the Solfire hack?

The Solfire hack resulted in $4.1M in losses on January 23, 2022.

What attack technique was used in the Solfire exploit?

The Solfire exploit utilized Rugpull. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

Solfire Hack

TOTAL LOST $4.1M

Medium Jan 23, 2022 Rugpull

Affected Chain 2022 Incident surface

Recovered - No recovery reported

All-Time Rank #471 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

Solfire executed rug pull by withdrawing assets from the Solfire hot wallet.

Addresses behind the rug pull:

https://solscan.io/account/D6RBPLyUYhUE98rWZrewSkpmSDLypGRoGV4EqvGKkvym

https://solscan.io/account/8XnyGsVNGFWQ2UYAzwj8gqJsCETMzmbY6ZFTqHpRWfy

Funds were stolen from Solfire hot wallet:

https://solscan.io/account/4QSQiBquEZXhLJNHNR6CjKEFWkgmtfcbTjdqHZgZErLn

The list of stolen funds:

- 6.3848 BTC

https://solscan.io/tx/4cdwKrEqcv1EB8oXhJw2Udmww8ySkPh7m3RMLFciWSbSE84oDZmRxeDBCR32XeVYWmF8zodpw4sNxrmJbkCwPTc2

- 104.86 soETH

https://solscan.io/tx/26AnPkNQ6VQaPJ4qyf1AwumEiSnQkXJpM3dhJe5cSqdcPFTkJjMgfojGXxME8QG6CkwAbFCMWLQMscbcDnNHSs4D

- 4,414.47 SOL

https://solscan.io/tx/2vEBhU4F5zZjL65JWkc7CFUZamU9rqpEBbPjugEoSLJ8WJGKBWvYWYUUtRapUtS5kFaF6YR3amCqPJhDBB7VaCrt

- 1,537,822.99 USDT

https://solscan.io/tx/2wcJUbWc4XiCcwrX3sm92XVCxmNEJH27Jo1idJ8N59313BXfqzT8QJj6szeRTekmns9JXjQzbpTKmeR6UFCCky4r

- 299,702.9 USDC

https://solscan.io/tx/5Q2xciZggPc9Ycmrs7XM33AbtAvTEiCHfBDS2MeSgV3ihYKKAc9nXhJ9r5NX3xnmb7pV8Y6hy6xkgx1SPCipa6bp

- 4,030.4 mSOL

https://solscan.io/tx/48r9KhG6N7jbK1wjPR2DnSAGjrKkEfXLRwtX5Q7af3jyQ5BKq7K5Y4BaHLMCtWQTwKgi65V9wx3AMZY2fYhkL9Ln

- 1,457.89 LUNA

https://solscan.io/tx/2roQu6zjy6wCuJK72eQeDHw1ojaA5WwtreYMcSq4okjfsrebXtngsxd5ub3ZZphEy5XFMg8SPjMsGrqU3hJSvSJv

- 26,347.69 RAY

https://solscan.io/tx/QauQooTafdiW2TqoWA4an7owW3fzCDTzWfuDXxDNz2t5eQAVtf2R1QKxBJ1fwB4SFwSme4zNakNzoaRpmSgc5e9

- 46,110.45 SRM

https://solscan.io/tx/zLHjtcwZnGRZfUYqsXF55npe6ebpju2hYfZyPejT8j1dFMuJBu5Q39BPfRgb74z1xtu7wbx6m4EMwZFGLShS8fm

- 830,270.48 SBR

https://solscan.io/tx/3dVq6Z5kddj51LhPesBz8Un4KD6i7e7MVDDvbLqbnnw93mNwzU1Uh34kS8v38g5MCp9MqmaU33yMyXwKD1Er6D2g

Initial gas funding was performed through the following wallet and then funds were bridged to Solana:

https://etherscan.io/address/0xe8032c02…c97f18

Stolen funds have arrived in the next wallets:

https://etherscan.io/address/0xc5afc6c1…044ec5

https://etherscan.io/address/0x1e669254…d66ff7

Part of stolen funds was deposited into Curve pool:

https://etherscan.io/tx/0x6719f05a…adf292

FIRE tokens circulation supply was sent to this address:

https://solscan.io/account/3SfihoLDctTc7fna3akRMkVuSFrhBkCzVv6scBJnjQSF#splTransfers

The liquidity from the pair was removed at:

https://solscan.io/tx/5X8BeUDax4s2k4YywMrp8Dj2EJCiH3RcBw99X51kqfw2yJL3ECqGveuvCyDzaR6a9xGBdShKMaUXdSJKVQgpz57i

https://solscan.io/tx/5QeajKs6shGXXPqUB5xxGXhjEXaK9pUvpvwzBBda48bMPzDcdW1UD8a1hhTSkMkQht71Go7hKGP521egKCSMvLo9

https://solscan.io/tx/36GYywPbYSxZcMigk9Ysdoz32kXqUywfJMP8qHgkDt271qhUSkdZWQPr7jWKUpDwwh3jEfH8MARdY7JAARHp7iNf

https://solscan.io/tx/39TKL9PyJ7A9FBrgeJZjbYtNGth85vWYpEuNPJ7BLuoNzDMz2aMjSbVHVf8SKcXQe24EyzithHPwKU38DV27951x

https://solscan.io/tx/3ugpapQE7JT8U7yrKpidTFW4YhqZ2f9Gpr7QvRFeXmvWC9MLasdy1K7mU8x86VE7LNtx7ZU4daA1NdHXgxjtGczn

Incident Report

Protocol / Project Solfire

Date of Incident January 23, 2022

Attack Technique Rugpull

Classification Other

Primary Source View Post-Mortem #1 View Post-Mortem #2

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token FIRE

Official Website www.solfire.finance/

Protocol Twitter/X @Solfirefinance

Team Anonymous

Source Code Unverified

Market Context at Time of Hack

Token Categories

Collectibles & NFTs Gaming Solana Ecosystem Metaverse Play To Earn

Protocol Links

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 Solfire's contract logic - root cause: other

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

If you're auditing a protocol with similar architecture to Solfire, these are the critical security checks that could have prevented this incident (January 2022).

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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Sources & References

01
Source 1 https://twitter.com/cryptobro888/status/1485302234669891586
02
Source 2 https://www.reddit.com/r/solana/comments/sbq3pl/rugpull_solfire/…
03
Web Archive https://web.archive.org/web/20211124210521/https://www.solfire.f…

Threat Assessment

Severity Level

MEDIUM

Attack Vector Rugpull
Root Cause Other
Year 2022

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