Incident Overview
Sui Network, a fake token on Binance Smart Chain, was involved in an exit scam. The deployer sent 1 billion $SUI tokens to the scammer who added initial liquidity and later drained it.
Sui Network is not related to the original SUI token. On October 22nd, 2022, the deployer transferred 1 billion $SUI tokens to a scammer's address. The scammer used these tokens along with 20 $BNB to add liquidity to the PancakeSwap pool.
On May 22nd, 2023, after waiting for several months without any activity or trading volume on this fake token project; the scammer removed all available LP funds worth around $196k USD by draining them from the PancakeSwap pool and transferred them into another EOA address. Currently, there is only about $300 USD worth of $BNB remaining as liquidity in that pool.
Scammer Address:
https://bscscan.com/address/0x333ec34e…5e8764
Deployer Address:
https://bscscan.com/address/0x54bCf365…41Fe19
Funds Holder Address:
https://bscscan.com/address/0x5e33f620…cddc3b
Liquidity Removal Transaction:
https://bscscan.com/tx/0xfb1f1fdc…3e3850
Deployer Relation Proof:
https://bscscan.com/tx/a7632b84d35d4d99133ae0a9b59f8b48af77c92666be4e3fde0b0ece134b6dc3
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 Sui Network, these are the critical security checks that could have prevented this incident (May 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
Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.
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