Incident Overview
SQUIDGAME token was rugpulled on PancakeSwap, with 55,539 USD worth of liquidity removed by the scammer.
SQUIDGAME, a BEP20 token trading on PancakeSwap, experienced an exit scam when the scammer removed 237.31 WBNB worth 55,539 USD from the liquidity pool. The stolen funds were transferred to another EOA and then distributed between multiple addresses. Notably, the scammer sent 21,274 USD to the developer's address 11 hours and 19 minutes before the sale of a large number of tokens.
Deployer Address:
https://bscscan.com/address/0x6dA430E6…91CDbd
Scammer Address:
https://bscscan.com/address/0x2cFe2D07…577e61
Liquidity Removal Transaction:
https://bscscan.com/tx/0x11ad1095…5cf7a0
Funds Sent Transaction between Deployer's and Scammer's addresses:
https://bscscan.com/tx/0x53ea5e3c…dea000
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 SQUID GAME, these are the critical security checks that could have prevented this incident (November 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
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