$136 000 USD

APRIL 2024

GLOBAL

Z123

DESCRIPTION OF EVENTS

"Token holders count: 3,331"

 

"In April 2024, a seemingly new hacker emerged, targeting Wall Street Memes and Z123 projects in quick succession with flash loan attacks, resulting in losses of $18,000 and $144,000 respectively."

 

"Z123 on BSC was attacked by a hacker due to a contract vulnerability, resulting in a loss of approximately $136k. The .update() function of Z123 was repeatedly called which burned extra tokens and inflated the price."

 

"Today, attacker activate itself again and deployed a new contract which was picked by ML service again (2024-04-22 07:55:32): 0x61Dd07Ce0cEcF0d7BaCf5EB208C57D16bBdEE168

 

Very soon (2024-04-22 10:02 AM), malicious transaction was detected (Mixer Malicious Contract): 0xc0c4e99a76da80a4cf43d3110364840151226c0a197c1728bb60dc3f1b3a6a27

 

Victim losses: $140K"

 

"Malicious actor using Flash loan to manipulate the price of the token in pool."

 

"By doing 81 iterations of token swaps and calling the ‘Update’ function of the pool, the price was manipulated."

Z123 was a popular token with over 3,000 holders. Unfortunately the smart contract was vulnerable to price manipulation, which allowed an attacker to take $136k from the liquidity pools.

Sources And Further Reading

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

Get Social

  • email
  • reddit
  • telegram
  • Twitter

© 2021 Quadriga Initiative. Your use of this site/service accepts the Terms of Use and Privacy Policy. This site is not associated with Ernst & Young, Miller Thompson, or the Official Committee of Affected Users. Hosted in Canada by HosterBox.