QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$20 000 USD
DECEMBER 2024
GLOBAL
EVMINK
DESCRIPTION OF EVENTS

"The communities own indexer Multichain inscription marketplace.Creator launchpad and more."
"We are thrilled to announce the launch of the new standard for inscriptions, marking a transformative milestone for the EVMINK ecosystem.
This update introduces a host of groundbreaking features that elevate how you trade, earn, and interact."
"The New Inscription Token Standard is an enhanced token standard on the EVM blockchain, designed to provide a modular framework of extensions that improve upon the traditional ERC-20 standard."
"- Native Token Swaps: Allows direct token exchanges without relying on decentralized exchanges (DEXs). - On-Chain Governance: Integrates decentralized governance mechanisms directly into token contracts, allowing for efficient decision-making. - Staking and Reward Distribution: Enables native staking functionalities with reward mechanisms."
"We’re proud to announce that BNBs will be the first token to migrate to our revolutionary new inscription token standard. As the largest inscription token on @BNBCHAIN by Volume and market cap, BNBs continues to set the benchmark for excellence and innovation.
This migration marks a new chapter for all inscriptions as BNBs will take the lead, unlocking advanced features like wallet integration, swapping, liquidity pools, and cheaper gas fees under the new standard. The future of inscriptions is here, and it starts with BNBs leading the charge!"
"In removeLiquidity() function, token transfer should happen before ETH transfer because token balance is used to calculate amountNative and amountToken to remove."
"A classical re-entry bug hit one of the @evmink new BNBS contract which leads ~20k lost. Attacker has been labeled as "FEGtoken Exploiter"."
"root cause is the balance update after the re-entry which impacts the K value. Later on a small amount of bnbs token could swap out almost all BNB in the victim account."
"bnbs token exploit. Root cause of bnbs exploit is reentrance. "removeLiquidity" function has no reentrance check, and bnbs balance is updated after eth sent, this can be used for reentrance attack. As you can see, "removeLiquidity" function is called in fallback function, and in each "removeLiquidity" function, he gets more and more bnbs tokens, as bnbs balance is not updated. After that, he exchanged all bnbs tokens to WBNB, total loss is about $20k."
"Our team is currently fixing some bugs on the huge gas fee involved, and modify the issue happens on UI side.
Please DO NOT do any transactions / activity until further notice. Everyone's assets are secured and safe."
"there’s been an issue unfortunately, and our team is actively working to resolve it. alongside our audit partners, @quillaudits_ai. user funds remain safe and secured. we’ll provide more updates shortly—thank you for your patience as we ensure everything is back on track."
Audit911 reports that their "team detected today that the bnbs project was hacked and the funds lost were ~20ku. Our AI detection system can already identify this vulnerability"
"A suspicious reentrancy attack involving bnbs (bnbs) occurred on the BSC chain, resulting in a loss of approximately $20,300."
Protocol has promised to cover all user assets.
"We have scheduled temporarily disable EVMINK platform to facilitate the final phase of internal security checks, ensuring a smooth and comprehensive process. This follows the completion of a rigorous security audit and reflects our commitment to maintaining the highest levels of safety and reliability for our users.
Please note: - All user funds remain secure, the liquidity pools are fully operational. - Once the platform is reactivated, tokens will be reallocated and issued promptly to all eligible users.
In the background, we are also preparing additional features aligned with the new token standard and working closely with the community to refine and enhance the ecosystem.
We appreciate your patience and support as we prioritize the security and performance of our platform. Updates will be provided through our official channels.
Thank you for your trust, All funds are SAFE."
"Trading is temporarily halted, We are investigating the issues with liquidity pool"
"Over the past few weeks, we have been diligently reinforcing the security of our platform after identifying a vulnerability in our smart contract, which led to an on-chain attack resulting in a $20.3K loss. While this was an unexpected setback, it has provided us with an opportunity to strengthen our security framework and ensure a more resilient platform moving forward."
"User funds remain fully protected – EVMINK has covered the entire loss from our reserves, ensuring that no user assets are affected. Reinforced smart contract security – Additional audits and advanced security measures have been implemented to prevent similar exploits. Comprehensive system improvements – Beyond just fixing the issue, we have enhanced the entire infrastructure to make the platform stronger and more efficient."
"We are approaching the final stage of internal security verification. Over the next few days, we will be announcing a strategic launch date for the platform, ensuring that we go live with maximum confidence and stability.
This is more than just a relaunch—it’s a major step forward. The lessons learned have allowed us to build an even stronger foundation, and we are excited for what’s ahead. Thank you for your patience, trust, and support as we prepare for a new and improved EVMINK."
EVMINK has launched a new standard for inscriptions, introducing innovative features for the ecosystem, including native token swaps, on-chain governance, and staking with reward distribution. BNBs were the first to migrate to this new standard, unlocking advanced features such as wallet integration and cheaper gas fees. However, the platform recently experienced a reentrancy exploit, resulting in a loss of approximately $20,300. The vulnerability, found in the "removeLiquidity" function, allowed an attacker to exploit the system by repeatedly withdrawing BNBs without updating the balance. In response, EVMINK temporarily disabled trading to perform security checks and enhance smart contract security. The platform has covered all user losses and is working on strengthening its infrastructure through additional audits and security measures. Trading will resume once internal verifications are complete, ensuring a more resilient and secure platform for users.
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Jan 24)
BlockThreat - Week 50, 2024 (Jan 24)
@TikkalaResearch Twitter (Jan 24)
@TikkalaResearch Twitter (Jan 24)
Inscriptions (Jan 24)
@evmink Twitter (Jan 24)
@evmink Twitter (Jan 24)
@evmink Twitter (Jan 24)
@evmink Twitter (Jan 24)
@evmink Twitter (Jan 24)
@quillaudits_ai Twitter (Jan 24)
@LucidSamuel_ Twitter (Jan 24)
QuillAudit_Reports/EVM.INK Smart Contract Audit Report - QuillAudits.pdf at master · Quillhash/QuillAudit_Reports · GitHub (Jan 24)
@evmink Twitter (Jan 24)
@evmink Twitter (Jan 24)
@0xNickLFranklin Twitter (Jan 24)
bnbs token exploit. – Defi hack analysis (Jan 24)
@TenArmorAlert Twitter (Jan 24)
@Hermione7812 Twitter (Jan 24)
@audit_911 Twitter (Jan 24)
