$34 000 USD

NOVEMBER 2024

GLOBAL

MFT

DESCRIPTION OF EVENTS

MFT is a smart contract in the Binance Smart Chain.

 

"The root cause is in the flawed logic of transfer(), which will burn token from the pool when user trys to sell token.

 

so attacker first makes a few transfers to the pair to trigger the sell in the MFT transfer(), this setup makes sure the MFT balance of MFT token itself will not interfere the subsequent attack, and then buy a large amount of MFT, making the MFT balance of the pair really low, and then selling an equal amount of MFT again, and due to burn [mechanism], the pool is drained.

 

interestingly the attacker transfers all profit to a self-created pair of another token for no obvious reason, we have seen similar way of this handling a couple of times, indicating it is very likely from a seasoned attacker."

 

"Our system has detected a suspicious attack involving #MFT on #BSC, resulting in an approximately loss of $33.7K."

 

Explore This Case Further On Our Wiki

MFT was a smart contract in the Binance Smart Chain. On November 17th, a vulnerability in the smart contract was exploited. The attacker ultimately transferred their gains into another token trading pair that they created.

Sources And Further Reading

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