Incident Overview
The ValentineFloki project blacklisted its users from selling the $ValentineFloki token and then proceeded to drain the project, netting the deployer $50k in ill-gotten profits.
The project deleted all of its online presence and the token is not trading anymore. This project shall not be confused with eponymous and still active projects.
The contract deployer added initial liquidity, pairing the $ValentineFloki with $BNB 97 at this transaction:
https://bscscan.com/tx/0x3df36656…b795fe
The contract deployer blocked token transfers by blacklisting users as can be seen in these transactions:
https://bscscan.com/txs?a=0x3e92eb09…4e5c70
Through the blacklisting, the users were not able to sell the token anymore.
Finally, the liquidity was removed by the contract deployer:
https://bscscan.com/tx/0xf87d78d8…93d88f
Incident Report
Protocol Information
Market Context at Time of Hack
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 ValentineFloki, these are the critical security checks that could have prevented this incident (February 2022).
- Verify all logic paths related to Honeypot 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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