What happened
STILTON MUSK (STILTON) was an ERC-20 token on Ethereum traded in a Uniswap V2 pool against WETH. Its owner-only createLiquidity function puts the entire token supply into the pool and sends the resulting LP tokens to the caller, so the deployer held the pool's liquidity with no lock in the code. The deployer is also exempt from the 10% transfer fee and from the owner-controlled tradingEnable switch.
Etherscan shows the deployer selling about 4.19 trillion STILTON for 162.35 WETH on 2022-06-15 and removing the remaining liquidity for 17.46 ETH on 2023-03-08. De.Fi's REKT database values the combined 179.8 WETH at about 231,904 USD.
How it happened
createLiquidity()isonlyOwner. It sets_balances[address(this)] = initialLiquidity;(the whole_totalSupply) and calls_uniswapV2Router.addLiquidityETH{value: address(this).balance}(address(this), initialLiquidity, 0, 0, msg.sender, block.timestamp);, so every LP token goes to the owner's wallet.- The constructor sets
_isExcludedFromFee[msg.sender] = true;. Excluded senders skip both the fee and therequire(tradingEnable, "trading disabled")check in_transfer, so the deployer can sell into the pool at any time, even if trading is switched off for everyone else. - The owner can flip trading with
setEnableTrading(bool value). While it isfalse, every buy and sell by a non-excluded holder reverts, but wallet-to-wallet transfers still work. The owner can also add or remove fee exemptions withsetExcludeFromFee. - On 2022-06-15 the deployer sold 4,187.63 billion STILTON through the Uniswap V3 router's
multicallfor 162.35 WETH, paid out as ETH (tx 0x64a2a79f…85d21e). - On 2023-03-08 the deployer called
removeLiquidityETHWithPermitSupportingFeeOnTransferTokenson the Uniswap V2 router, burning its LP tokens and receiving 17.46 ETH plus about 4.54 trillion STILTON from the pool (tx 0x315cdf0a…ee50d4).
Protocol details
Evidence
- transaction Etherscan transaction 0x315cdf0a... (liquidity removal, 2023-03-08) etherscan.io
- transaction Etherscan transaction 0x64a2a79f... (deployer sale, 2022-06-15) etherscan.io
- address Etherscan verified contract code, STILTON MUSK (STILTON) 0x06fcbf38e823efc1e609b9491AaB546334c6ee69 etherscan.io
- address etherscan.io address 0x9675…b654 etherscan.io
- analysis Sourcify repository, STILTON_MUSK.sol for chain 1 address 0x06fcbf38e823efc1e609b9491AaB546334c6ee69 repo.sourcify.dev
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