STEAD

DESCRIPTION OF EVENTS

The Stead smart contract was launched on the Arbitrum blockchain on February 21st, 2024. The blockchain address for the smart contract is 0xf9ff933f51ba180a474634440a406c95dfb27596.

The Stead smart contract had a vulnerability.

"It seems that the 0x16fb27ce() function in the newly upgraded contract 0xf9ff lacks proper access control, allowing any to drain STEAD tokens from the contract."

Losses are reported by TenArmor at $14.5k USD. The exploit transactions shows a gain of 135,000 STEAD tokens.

The incident and malicious transaction were ultimately reported on by TenArmor.

It does not appear that there has been any recovery.

There is no indication that any funds have been recovered.

It is unclear if any investigation or recovery is ongoing.

Explore This Case Further On Our Wiki

TenArmor - "Our system has detected a suspicious attack involving #STEAD token on #Arbitrum, resulting in an approximately loss of $14.5K." - Twitter/X (Jul 25)
Attack Transaction On Stead Token Smart Contract - Arbiscan (Jul 25)
Exploited Stead Smart Contract Address - Arbiscan (Jul 25)
Creation Of Exploited Stead Smart Contract - Arbiscan (Jul 25)

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