What happened
On Feb 5, 2023, the team behind the YAYO Token token executed a rug pull, resulting in a loss of funds worth $80k USD.
The attack on the YAYO Token token involved the token contract deployer manipulating the liquidity pool by removing liquidity from the pair contract and selling a large quantity of tokens on the market. This resulted in a rapid drop in the token's price by approximately 90%. The deployer took advantage of their ability to manipulate the liquidity pool and market to execute a rug pull, effectively stealing funds from investors.
The exploit highlights the importance of careful token contract design and the need for investors to perform due diligence before investing in new projects.
Deployer:
https://polygonscan.com/address/0x9d49d27c…8115cf
Remove liquidity:
https://polygonscan.com/tx/0x6209de9a…fb67a4
Case & protocol details
Evidence & learning
Sources and on-chain records
- report Report twitter.com
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