What happened
Quick Summary
On the 11th of April TYF on the BSC chain was rugged for approx 69k USD.
Details of the Exploit
The team responsible for managing liquidity in the TYF protocol executed a liquidity removal scam, causing the project to suffer significant losses. The contract deployer removed a significant amount of liquidity pool (LP) and sold off the token, leading to a sharp drop of around 90% in its initial price.
Block Data Reference
Scammer:
https://bscscan.com/address/0x8dce7d8d…9773ca
Liquidity removal:
https://bscscan.com/tx/0x6bb3c129…8de6c3
Case & protocol details
Classification
Token
Protocol Type
Exit Scam/Rugpull
Affected asset / contract
TYF
Evidence & learning
Sources and on-chain records
- report Report twitter.com
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