CASHVERSE

DESCRIPTION OF EVENTS

CashVerse is a platform designed to provide users with multiple streams of passive income through the cryptocurrency market. The project focuses on transparency, integrity, and utility, aiming to offer safe and long-term investment opportunities. By offering services like staking, token holding, and access to a range of crypto tools, CashVerse strives to keep users updated and informed about market trends. The platform also includes a portfolio tracker, real-time crypto news, and marketing services, helping users stay connected to the latest developments in the crypto space.

One of the key features of CashVerse is its use of in-house tools and services, including "Crypt2Date," a platform for crypto research, and the "SignalBot," a Telegram bot that provides security-checked investment signals across multiple chains. Users can personalize their signal preferences, from more speculative options to the most secure recommendations. The platform encourages a community-focused approach to financial freedom, emphasizing the importance of embracing market dips for long-term rewards. CashVerse aims to build a strong and engaged community while offering a safe and reliable environment for crypto enthusiasts to invest and earn passive income.

CashVerse differentiates itself by leveraging lessons learned from its predecessor, FortuneCash, and incorporating innovative features like strategic taxation and staking mechanisms. The platform uses a unique tax structure of 8% buy/sell/transfer tax, which is split between 4% for spots and 4% for ADACash/SOLCash. Additionally, the launch date is mentioned, which is set for July 5th, 2024. CashVerse aims to create a comprehensive ecosystem with multiple avenues for earning passive income, such as staking and token holding, while driving value to its associated tokens. The platform encourages users to join its community and benefit from its extensive partnerships.

The CashVerse smart contract had vulnerabilities.

The depositBNB function in contract 0x2d70 lacks access control and proper slippage protection, allowing anyone to swap BNB in the contract for ADAcash. The attacker exploited this via a sandwich attack.

Additionally, there's a minor issue: the transfer function of ADAcash contains multiple swaps, all lacking slippage protection. By exploiting this, the attacker reclaimed swap fees and maximized profits by sandwiching the WBNB/ADA swap."

"Our system has detected a suspicious sandwich attack involving an old unverified contract 0x2d70 and #ADAcash @adacashbsc on #BSC, resulting in an approximately loss of $107.9K.

It seems that the original attack transaction was frontrun due to running out of gas.

The depositBNB function in contract 0x2d70 lacks access control and proper slippage protection, allowing anyone to swap BNB in the contract for ADAcash. The attacker exploited this via a sandwich attack.

Additionally, there's a minor issue: the transfer function of ADAcash contains multiple swaps, all lacking slippage protection. By exploiting this, the attacker reclaimed swap fees and maximized profits by sandwiching the WBNB/ADA swap."

TenArmor reports "resulting in an approximately loss of $107.9K."

It does not appear that CashVerse has not posted on their Twitter account since January 2024. However, CashVerse replied and engaged with multiple smart contract auditing firms including SlowMist and TenArmor.

CashVerse has never made any public announcements about the exploit or what happened. It is unclear what may have happened behind the scenes.

Explore This Case Further On Our Wiki

SlowMist - "SlowMist Security Alert We detected potential suspicious activity related to @CashverseLLC. As always, stay vigilant!" - Twitter/X (Mar 20)
CashVerse Homepage (Mar 20)
About CashVerse Token (Mar 20)
CashVerse - "C2D Tradingbot is here for YOU! Trade tokens on ETH, BSC, ARB, BASE, and MATIC Monitor profits directly in Telegram Start trading today" - Twitter/X (Mar 20)
CashVerse - "Yeah that was very Strange Yesterday. Seemed Like a flashloan Attack or idk.. didnt make any sense" - Twitter/X (Mar 20)
CashVerse - "Also WE Here since 3 years.. 2 years with almost No Volume very profitable scam" - Twitter/X (Mar 20)
TenArmor - "Our system has detected a suspicious sandwich attack involving an old unverified contract 0x2d70 and #ADAcash @adacashbsc on #BSC, resulting in an approximately loss of $107.9K." - Twitter/X (Mar 20)
CashVerse Linktree (Mar 20)

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