$181 000 USD

MAY 2021




"JulSwap is a community-centric decentralized exchange that helps crypto projects raise liquidity by conducting IDOs, organizing staking pools, and conducting liquidity mining in a decentralized fashion through the innovative power of JULD tokens." "JulSwap is the equivalent of Uniswap on the Binance Smart Chain. JulSwap offers the same Trading Engine and analytics as Uniswap and some additional features from Sushiswap."


"Are you running a small/medium crypto based project, but can't grow your business owing to high Etherium Gas Fee and slow transactions?!" "With JulSwap, joining the Binance Smart Chain is fast & simple. Just follow these simple steps and soon your project* can have its own BEP20 Token on the Binance Smart Chain and be traded on JulSwap."


"Flash Loan AttackA hacker exploited JulSwap with a flash loan attack to gain 4k JULb tokens. The price of JULb tokens dropped 75% after the hacker swapped all JULb tokens to BNB."


"The JulSwap of the DEX protocol and the automated liquidity protocol on the BSC chain was attacked by lightning loans, and $JULB fell more than 95% in a short time."


The founder "investigated the dump tonight on Jul. it’s seems it was the same Situation as some other projects experienced in the last weeks due to an flash loan. There is NO hack or exploit!"

When it comes to handling exploits, lots of platforms do different things. Some disappear. Some issue a statement and refuse to help affected users. Some do what they can. A few make right to their users. The JulSwap platform is one of the few who claim they weren't breached, despite the evidence clearly on the blockchain. Despite their insistence they did nothing wrong, volume and liquidity seem to be down lately.


In general, many smart contract exploits occur because the contract relies on a limited market place to determine the price of an asset.


By instead relying on a proper oracle, this particular exploit could be avoided.


In a more general solution, storing the majority of funds in an offline multi-signature arrangement would keep them safe. Smart contracts should be thought of similarly to hot wallets.


Check Our Framework For Safe Secure Exchange Platforms

Sources And Further Reading

 For questions or enquiries, email info@quadrigainitiative.com.

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