How much was lost in the Static hack?

The Static hack resulted in $24K in losses on April 30, 2021.

What attack technique was used in the Static exploit?

The Static 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.

Static Hack

TOTAL LOST $24K

Low Apr 30, 2021 Rugpull ethereum

Affected Chain ethereum Incident surface

Recovered - No recovery reported

All-Time Rank #1866 By amount stolen

Protocol Type Exit Scam/Rugpull Target category

Incident Overview

The contract deployer added initial liquidity at:

https://etherscan.io/tx/0x34d65e02…5ecc95

The liquidity was locked by the contract deployer at:

https://etherscan.io/tx/0x63154969…873f68

LP tokens were transferred back to the contract deployer's address by calling withdraw() function at:

https://etherscan.io/tx/0x4376c8f9…949c52

The liquidity was removed by the contract deployer at:

https://etherscan.io/tx/0x70ca09fd…6067dc

The tokens were sold by the contract deployer multiple times:

https://bloxy.info/txs/references_address/0xf443d4df…f3e345?argument=to&signature_id=1137755

https://bloxy.info/txs/references_address/0xf443d4df…f3e345?argument=to&signature_id=1102188

Incident Report

Protocol / Project Static

Date of Incident April 30, 2021

Affected Chain(s) ethereum

Attack Technique Rugpull

Classification Yield Aggregator

Protocol Information

Protocol Type Exit Scam/Rugpull

Affected Token STC

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 ethereum smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in Static's contract logic - root cause: yield aggregator

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 Static, these are the critical security checks that could have prevented this incident (April 2021).

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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Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause Yield Aggregator
Year 2021

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