- Amount Lost: $81,000.00
- Funds Returned: $0.00
- Category: Token
- Date: 2023-3-27
Quick Summary
On March 27, 2023, the team behind the ARKEN Token token executed a rug pull, resulting in a loss of funds worth $81k USD.
Details of the Exploit
The attack on the ARKEN 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.
Block Data Reference
Deployer:
https://bscscan.com/address/0x8db85c737a8ed1e2a7c0bd7b8962cf15ddc85661
Example TX of removing liquidity:
https://bscscan.com/tx/0x4b251122ebcfb6feabd27ba5b4363062d04ca14009508e1e747bc9f644a1903f
Proof Links: