Popit Finance Rug Pull - Revision history

Azoundria at 23:58, 2 May 2023

2023-05-02T23:58:18Z

← Older revision		Revision as of 17:58, 2 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/popitfinancerugpull.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/popitfinancerugpull.php}}
	{{Unattributed Sources}}		{{Unattributed Sources}}

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	After this was reported, they used the exploit to steal all funds, and removed most social media. popit.farm presently redirects to a McDonald's hiring page.		After this was reported, they used the exploit to steal all funds, and removed most social media. popit.farm presently redirects to a McDonald's hiring page.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="certik-1251" /><ref name="dappradar-2523" /><ref name="morioh-2524" /><ref name="coinmarketcap-2525" /><ref name="popitfarmarchive-2526" /><ref name="rugdociotwitter-2527" /><ref name="bscscan-2528" /><ref name="bbapt15tatwitter-2529" /><ref name="antirugorgtwitter-2530" /><ref name="digitusfarmertwitter-2531" /><ref name="coincarp-2532" /><ref name="isthiscoinascam-2533" /><ref name="popitfinance-2534" />
	<ref name="certik-1251" /><ref name="dappradar-2523" /><ref name="morioh-2524" /><ref name="coinmarketcap-2525" /><ref name="popitfarmarchive-2526" /><ref name="rugdociotwitter-2527" /><ref name="bscscan-2528" /><ref name="bbapt15tatwitter-2529" /><ref name="antirugorgtwitter-2530" /><ref name="digitusfarmertwitter-2531" /><ref name="coincarp-2532" /><ref name="isthiscoinascam-2533" /><ref name="popitfinance-2534" />

	== About Popit Finance ==		== About Popit Finance ==
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	!Description		!Description
	\|-		\|-
	\|June 21st, 2021 ~~12:00:00 AM~~		\|June 21st, 2021
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
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	\|		\|
	\|}		\|}

			== Technical Details ==
			This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

	== Total Amount Lost ==		== Total Amount Lost ==
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	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== General Prevention Policies ==
			The project was launched by an anonymous team, which had no background check. Funds were stored in a smart contract hot wallet. There was no multi-sig or validation of any kind on withdrawals.
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

			== Platform Prevention Policies ==
			{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

			== Regulatory Prevention Policies ==
			{{Prevention:Regulators:Placeholder}}

	== Prevention ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~The project was launched by an anonymous team, which had no background check. Funds were stored in a smart contract hot wallet. There was no multi-sig or validation of any kind on withdrawals.~~

	== References ==		== References ==

Azoundria at 03:45, 23 February 2023

2023-02-23T03:45:11Z

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/popitfinancerugpull.php}} Popit FinanceBanking partially on the goodwill of people wishing to support LGBTQ rights, Popit Farms launched a smart contract which had a backdoor that allowed the draining of all funds. After this was reported, they used the exploit to steal all funds, and removed most social media. popit.farm presently redirects to a McDonald's hiring pag..."

2023-01-27T20:41:06Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/popitfinancerugpull.php}} thumb|Popit FinanceBanking partially on the goodwill of people wishing to support LGBTQ rights, Popit Farms launched a smart contract which had a backdoor that allowed the draining of all funds. After this was reported, they used the exploit to steal all funds, and removed most social media. popit.farm presently redirects to a McDonald's hiring pag..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/popitfinancerugpull.php}}

[[File:Popitfarm.jpg|thumb|Popit Finance]]Banking partially on the goodwill of people wishing to support LGBTQ rights, Popit Farms launched a smart contract which had a backdoor that allowed the draining of all funds.

After this was reported, they used the exploit to steal all funds, and removed most social media. popit.farm presently redirects to a McDonald's hiring page.

This is a global/international case not involving a specific country.

== About Popit Finance ==
"The world is a dark, stressful and demanding place. That is where we come in." "Popit Finance is the #1 anti-stress, multi-asset, deflationary and self-regulating farm running on Binance Smart Chain." "Popit is the Future of ILO and fair launching! We support equality towards every project & individual." "We are building the ILO platform of the future and treat every project and individual equally. We also donate 0.5% of all transactions to LGBTQ+ Organizations."

"Website, token & farming launch will be announced live on June 18th, 2021. Everybody in the community will have equal chances to participate! Our goal is providing a more friendly farming experience and ultimate project support." "Main features: – HIGH YIELD FARMING – DEFLATIONARY AUTO BURN – AUTO BUYBACK – REFERRAL BONUS – WEEKLY DONATION TO LGBTQ+ ORGS – CROSS-CHAIN" "Popit Finance Farm & DEX run on Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum or Bitcoin, comparable to major exchanges."

"After DEX launch, 0.05% trading fee will be used to buy back POPIT as a weekly growth fund, rewarded to winning projects. Use POPIT to vote for your ideal projects, help them grow." "No presale or team allocation, all tokens are distributed to the community on a fair basis." "Unlike centralized exchanges like Binance, Popit Finance Farm & DEX doesn’t hold your funds when you trade: you have 100% ownership of your tokens, and you can trade directly from your wallet." "Farming Starts 25 June 2021, 08:38 am UTC"

"Popit Finance has a migrator and owner's an EOA – it can rug at any time!" The "migrateCakeLPsToPopitSwap() function allows [the] owner to transfer funds to any address." "The MasterChef contract contains the migrateCakeLPsToPopitSwap function that allows the contract owner (not a TimeLock) to transfer LP tokens to any address, resulting in a possible rug pull at any time. Be cautious and DO NOT engage."

"Owner wallets are already cashing out." "[L]ooks like its happening. [T]witter account deleted. [Telegram] muted. [H]uge price dump." "The Github account (popit-farm) linked to this project previously existing account has been removed." "Website link takes to McDonalds website."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:
* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - Popit Finance Rug Pull
!Date
!Event
!Description
|-
|June 21st, 2021 12:00:00 AM
|Main Event
|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?

== Prevention Policies ==
The project was launched by an anonymous team, which had no background check. Funds were stored in a smart contract hot wallet. There was no multi-sig or validation of any kind on withdrawals.

== References ==
[https://www.certik.org/ CertiK Blockchain Security Leaderboard] (May 31)

[https://dappradar.com/binance-smart-chain/defi/popit-finance Popit Finance | DappRadar] (Aug 14)

[https://morioh.com/p/6c187de7539b Morioh] (Aug 14)

[https://coinmarketcap.com/currencies/popit-farm/ Popit.Farm price today, POPIT live marketcap, chart, and info | CoinMarketCap] (Aug 14)

[https://web.archive.org/web/20210622032729/http://popit.farm/ Popit! Finance] (Aug 14)

[https://twitter.com/rugdocio/status/1406788228426846211 @rugdocio Twitter] (Aug 14)

[https://bscscan.com/token/0x307e77693a4eeb883bf69425f36dc472c93f6d7d?a=0x86e9f9fa963801c1f0b16db049adac1ed197185a Popit (POPIT) Token Tracker | BscScan] (Aug 14)

[https://twitter.com/BBapt15ta/status/1408209611040174088 @BBapt15ta Twitter] (Aug 14)

[https://twitter.com/antiRugOrg/status/1407296784595046406 @antiRugOrg Twitter] (Aug 14)

[https://twitter.com/DigitusFarmer/status/1408474092794155023 @DigitusFarmer Twitter] (Aug 14)

[https://www.coincarp.com/currencies/popit-farm/ Popit Finance price now, Live POPIT price,marketcap,chart,and info | CoinCarp] (Aug 14)

[https://isthiscoinascam.com/check/popit-farm Is Popit.Farm A Scam?] (Aug 14)

[https://popitfinance.medium.com/ Popit! Finance – Medium] (Aug 14)

← Older revision		Revision as of 21:45, 22 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/popitfinancerugpull.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/popitfinancerugpull.php}}
			{{Unattributed Sources}}

	[[File:Popitfarm.jpg\|thumb\|Popit Finance]]Banking partially on the goodwill of people wishing to support LGBTQ rights, Popit Farms launched a smart contract which had a backdoor that allowed the draining of all funds.		[[File:Popitfarm.jpg\|thumb\|Popit Finance]]Banking partially on the goodwill of people wishing to support LGBTQ rights, Popit Farms launched a smart contract which had a backdoor that allowed the draining of all funds.
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	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="certik-1251" /><ref name="dappradar-2523" /><ref name="morioh-2524" /><ref name="coinmarketcap-2525" /><ref name="popitfarmarchive-2526" /><ref name="rugdociotwitter-2527" /><ref name="bscscan-2528" /><ref name="bbapt15tatwitter-2529" /><ref name="antirugorgtwitter-2530" /><ref name="digitusfarmertwitter-2531" /><ref name="coincarp-2532" /><ref name="isthiscoinascam-2533" /><ref name="popitfinance-2534" />

	== About Popit Finance ==		== About Popit Finance ==
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	== References ==		== References ==
	[https://www.certik.org/ CertiK Blockchain Security Leaderboard] (~~May 31~~)		<references><ref name="certik-1251">[https://www.certik.org/ CertiK Blockchain Security Leaderboard] (Jun 1, 2021)</ref>

	[https://dappradar.com/binance-smart-chain/defi/popit-finance Popit Finance \| DappRadar] (Aug 14)		<ref name="dappradar-2523">[https://dappradar.com/binance-smart-chain/defi/popit-finance Popit Finance \| DappRadar] (Aug 15, 2021)</ref>

	[https://morioh.com/p/6c187de7539b Morioh] (Aug 14)		<ref name="morioh-2524">[https://morioh.com/p/6c187de7539b Morioh] (Aug 15, 2021)</ref>

	[https://coinmarketcap.com/currencies/popit-farm/ Popit.Farm price today, POPIT live marketcap, chart, and info \| CoinMarketCap] (Aug 14)		<ref name="coinmarketcap-2525">[https://coinmarketcap.com/currencies/popit-farm/ Popit.Farm price today, POPIT live marketcap, chart, and info \| CoinMarketCap] (Aug 15, 2021)</ref>

	[https://web.archive.org/web/20210622032729/http://popit.farm/ Popit! Finance] (Aug 14)		<ref name="popitfarmarchive-2526">[https://web.archive.org/web/20210622032729/http://popit.farm/ Popit! Finance] (Aug 15, 2021)</ref>

	[https://twitter.com/rugdocio/status/1406788228426846211 @rugdocio Twitter] (Aug 14)		<ref name="rugdociotwitter-2527">[https://twitter.com/rugdocio/status/1406788228426846211 @rugdocio Twitter] (Aug 15, 2021)</ref>

	[https://bscscan.com/token/0x307e77693a4eeb883bf69425f36dc472c93f6d7d?a=0x86e9f9fa963801c1f0b16db049adac1ed197185a Popit (POPIT) Token Tracker \| BscScan] (Aug 14)		<ref name="bscscan-2528">[https://bscscan.com/token/0x307e77693a4eeb883bf69425f36dc472c93f6d7d?a=0x86e9f9fa963801c1f0b16db049adac1ed197185a Popit (POPIT) Token Tracker \| BscScan] (Aug 15, 2021)</ref>

	[https://twitter.com/BBapt15ta/status/1408209611040174088 @BBapt15ta Twitter] (Aug 14)		<ref name="bbapt15tatwitter-2529">[https://twitter.com/BBapt15ta/status/1408209611040174088 @BBapt15ta Twitter] (Aug 15, 2021)</ref>

	[https://twitter.com/antiRugOrg/status/1407296784595046406 @antiRugOrg Twitter] (Aug 14)		<ref name="antirugorgtwitter-2530">[https://twitter.com/antiRugOrg/status/1407296784595046406 @antiRugOrg Twitter] (Aug 15, 2021)</ref>

	[https://twitter.com/DigitusFarmer/status/1408474092794155023 @DigitusFarmer Twitter] (Aug 14)		<ref name="digitusfarmertwitter-2531">[https://twitter.com/DigitusFarmer/status/1408474092794155023 @DigitusFarmer Twitter] (Aug 15, 2021)</ref>

	[https://www.coincarp.com/currencies/popit-farm/ Popit Finance price now, Live POPIT price,marketcap,chart,and info \| CoinCarp] (Aug 14)		<ref name="coincarp-2532">[https://www.coincarp.com/currencies/popit-farm/ Popit Finance price now, Live POPIT price,marketcap,chart,and info \| CoinCarp] (Aug 15, 2021)</ref>

	[https://isthiscoinascam.com/check/popit-farm Is Popit.Farm A Scam?] (Aug 14)		<ref name="isthiscoinascam-2533">[https://isthiscoinascam.com/check/popit-farm Is Popit.Farm A Scam?] (Aug 15, 2021)</ref>

	[https://popitfinance.medium.com/ Popit! Finance – Medium] (Aug 14)		<ref name="popitfinance-2534">[https://popitfinance.medium.com/ Popit! Finance – Medium] (Aug 15, 2021)</ref></references>