SWAPRUM

DESCRIPTION OF EVENTS

"Next Generation Decentralized Exchange"

"Swaprum is a next-generation decentralized exchange with a range of trading tools and potential earnings of up to 100% APY. Explore limitless possibilities in the world of DeFi with Swaprum."

"Swaprum (@Swaprum) on Arbitrum rugged by its founders for ~$3M"

"The deployer of Swaprum utilized a backdoor function, add(), to steal LP tokens staked by users

Following the theft, liquidity was swiftly stolen from the pool by the deployer"

"Then, the deployer of Swaprum transferred all the funds to Ethereum network using cross chain bridges such as @MultichainOrg, @AcrossProtocol, and @CelerNetwork. After successfully bridging 1620 $ETH through these platforms, he funneled it into @TornadoCash."

"At this time @Swaprum has deleted all their social media accounts and groups."

"As a result of this rugpull, the token $SAPR has plummeted by 100%. The scammers managed to escape with approximately 1,628 ETH, equivalent to around $2.95 million."

"CertiK AGAIN! Why in the hell are these degens giving such "projects" money? It's frustrating to see all these scammers since 2010, hello braincell."

SwapRum Finance offered a next generation decentralized exchange. They obtained an audit from CertiK but only partially resolved some of the issues in their project. Then they used one of those issues to execute a rug pull and withdraw all funds form the liquidity pool, which were then brought out through TornadoCash.

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@Sanjeev08818841 Twitter (May 19)
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@la_marziaa Twitter (May 19)
@mohsencng Twitter (May 19)
@Beyond_bitcoin1 Twitter (May 19)
@TheCryptopurity Twitter (May 19)
@Khuongeyeless Twitter (May 19)
Swaprum - CertiK Skynet Project Insight (May 19)
The Block: Swaprum DEX team disappears with $3 million in apparent exit scam (May 19)

More case studies

EOS EVM Contract
Drain Vulnerability

Tornado Cash
Governance Overtaken