QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$450 000 USD
NOVEMBER 2024
GLOBAL
BGM
DESCRIPTION OF EVENTS

BGM is a smart contract on the Binance Smart Chain. Very limited information can be found about the history of this token.
"The token rewards invitees when tokens are transferred between EOAs. This mechanism can be exploited if multiple user have the same invitee address, which can artificially inflate userInvitorEarn[addr]."
"The reward can be withdrawn by calling the withdraw function, which directly transfer the reward tokens from the pair, functioning similarly to a burn mechanism that attacker exploited."
"Today's #BGM incident on #BSC @BNBCHAIN appears to be a well-planned attack. The attacker(0x7824) prepared this attack about three days in advance! The root cause lies in the reward mechanism for tokens inviters. Let's break it down"
BGM is a token launched on BSC (Binance Smart Chain). This project has limited public presence. On November 10th, a complex attack was launched on the token which included price manipulation and large batch transactions. There was an estimated $450k lost. It's unclear what will be happening for affected users in this case.
BGM/USDT Real-time On-chain PancakeSwap v2 (BSC) DEX Data (Dec 13)
BEP-20: BGM (BGM) Token Tracker | BscScan
(Dec 13)
Exchange | PancakeSwap (Dec 13)
@TenArmorAlert Twitter (Dec 13)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 13)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 13)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 13)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 13)
BGM/USDT - BGM Price on Pancakeswap V2 (BSC) | GeckoTerminal (Dec 13)
BGM (BGM) contract is 0xdbd0ffadebd345686d91fdca316e81c94f9faa90 on BSC | Top100Token (Dec 13)
x.com (Jan 14)
