QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$17 000 USD
NOVEMBER 2024
GLOBAL
BSCGEM
DESCRIPTION OF EVENTS

BSCGem is a smart contract on BSC. No further details could be determined.
"The root cause appears to be the interest mechanism within the token's transfer function. The attacker inflated the _interestAmount by repeatedly buying and selling tokens, ultimately extracting a significant amount of interest from the BSCGem contract, which they then sold for profit."
"resulting in an approximately loss of $17.3K."
"Our system has detected that #BSCGem on #BSC was attacked, resulting in an approximately loss of $17.3K."
"According to monitoring by the SlowMist Security Team, the BSCGem (BSCGem) on BSC is suspected to have been attacked, resulting in a loss of approximately $17.3K."
"We detected potential suspicious activity related to the interest function of $BSCGem (0x256B37c4000E2a327E4d3B10AeE244EA5d4A3668)."
The BSCGem smart contract on the Binance Smart Chain appears to have been exploited for $17.3k due to a vulnerability in the inflation function of the contract. No further details could be located to suggest that the protocol had issued a public statement or was working to compensate affected users.
@SlowMist_Team Twitter (Jan 10)
BSCGem | Address 0x256B37c4000E2a327E4d3B10AeE244EA5d4A3668 | BscScan
(Jan 10)
@TenArmorAlert Twitter (Jan 10)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Jan 10)
