SageSwap Rug Pull - Revision history

Azoundria at 23:46, 2 May 2023

2023-05-02T23:46:04Z

← Older revision		Revision as of 17:46, 2 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/sageswaprugpull.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/sageswaprugpull.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	[[File:Sageswap.jpg\|thumb\|SageSwap]]The site appears to have launched around March 20th, 2021 and failed to load after March 22nd, 2021. The last visible indication of Total Value Locked in the smart contract hot wallet was $32,451 USD. In the end, it appears that the developers had built a small function in the smart contract to allow them to steal any invested funds.		[[File:Sageswap.jpg\|thumb\|SageSwap]]The site appears to have launched around March 20th, 2021 and failed to load after March 22nd, 2021. The last visible indication of Total Value Locked in the smart contract hot wallet was $32,451 USD. In the end, it appears that the developers had built a small function in the smart contract to allow them to steal any invested funds.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="certikorgtwitter-5539" /><ref name="rugdoc-5540" /><ref name="sageswapfinancearchive-5541" /><ref name="sageswapfinancearchive-5542" /><ref name="sageswapfinancearchive-5543" /><ref name="sageswapfinancearchive-5544" /><ref name="bitqueryexplorer-5545" /><ref name="bscscan-5546" /><ref name="bscscan-5547" /><ref name="bscscan-5548" /><ref name="reddit-5549" /><ref name="foundationapp-5550" /><ref name="cryptobuyingtips-5551" /><ref name="coincodex-5552" /><ref name="isthiscoinascam-5553" /><ref name="coingecko-5554" /><ref name="sageswaptwitterarchive-5555" />
	<ref name="certikorgtwitter-5539" /><ref name="rugdoc-5540" /><ref name="sageswapfinancearchive-5541" /><ref name="sageswapfinancearchive-5542" /><ref name="sageswapfinancearchive-5543" /><ref name="sageswapfinancearchive-5544" /><ref name="bitqueryexplorer-5545" /><ref name="bscscan-5546" /><ref name="bscscan-5547" /><ref name="bscscan-5548" /><ref name="reddit-5549" /><ref name="foundationapp-5550" /><ref name="cryptobuyingtips-5551" /><ref name="coincodex-5552" /><ref name="isthiscoinascam-5553" /><ref name="coingecko-5554" /><ref name="sageswaptwitterarchive-5555" />

	== About SageSwap ==		== About SageSwap ==
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	!Description		!Description
	\|-		\|-
	\|March 20th, 2021 9:16:03 PM		\|March 20th, 2021 9:16:03 PM MDT
	\|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.
Line 72:		Line 71:
	\|		\|
	\|}		\|}

			== 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 ==
			Funds stored in smart contract hot wallets face many risks, especially when the wallet is controlled by an anonymous developer. For proper protection, uninsured funds should be stored in a multi-sig wallet with all keys stored offline and held by known and trained individuals. At least two seprate reviews of this setup should be conducted.
			== 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}}
	Funds stored in smart contract hot wallets face many risks, especially when the wallet is controlled by an anonymous developer. For proper protection, uninsured funds should be stored in a multi-sig wallet with all keys stored offline and held by known and trained individuals. At least two seprate reviews of this setup should be conducted.

	== References ==		== References ==

Azoundria at 23:47, 18 February 2023

2023-02-18T23:47:36Z

← Older revision		Revision as of 17:47, 18 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/sageswaprugpull.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/sageswaprugpull.php}}
			{{Unattributed Citations}}

	[[File:Sageswap.jpg\|thumb\|SageSwap]]The site appears to have launched around March 20th, 2021 and failed to load after March 22nd, 2021. The last visible indication of Total Value Locked in the smart contract hot wallet was $32,451 USD. In the end, it appears that the developers had built a small function in the smart contract to allow them to steal any invested funds.		[[File:Sageswap.jpg\|thumb\|SageSwap]]The site appears to have launched around March 20th, 2021 and failed to load after March 22nd, 2021. The last visible indication of Total Value Locked in the smart contract hot wallet was $32,451 USD. In the end, it appears that the developers had built a small function in the smart contract to allow them to steal any invested funds.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="certikorgtwitter-5539" /><ref name="rugdoc-5540" /><ref name="sageswapfinancearchive-5541" /><ref name="sageswapfinancearchive-5542" /><ref name="sageswapfinancearchive-5543" /><ref name="sageswapfinancearchive-5544" /><ref name="bitqueryexplorer-5545" /><ref name="bscscan-5546" /><ref name="bscscan-5547" /><ref name="bscscan-5548" /><ref name="reddit-5549" /><ref name="foundationapp-5550" /><ref name="cryptobuyingtips-5551" /><ref name="coincodex-5552" /><ref name="isthiscoinascam-5553" /><ref name="coingecko-5554" /><ref name="sageswaptwitterarchive-5555" />

	== About SageSwap ==		== About SageSwap ==
Line 42:		Line 44:

	Don't Include:		Don't Include:

	* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.		* 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.		* Anything that wasn't reasonably knowable at the time of the event.
Line 64:		Line 65:
	\|-		\|-
	\|March 20th, 2021 9:16:03 PM		\|March 20th, 2021 9:16:03 PM
	\|~~First~~ Event		\|Main Event
	\|~~This is an expanded~~ 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.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
Line 77:		Line 74:

	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost ~~is unknown~~.		The total amount lost has been estimated at $32,000 USD.

	How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?		How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
Line 88:		Line 85:

	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ 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?		What funds were recovered? What funds were reimbursed for those affected users?
Line 99:		Line 96:

	== References ==		== References ==
	[https://mobile.twitter.com/certikorg/status/1373469189583867904 https://mobile.twitter.com/certikorg/status/1373469189583867904] (Jan 10)		<references><ref name="certikorgtwitter-5539">[https://mobile.twitter.com/certikorg/status/1373469189583867904 https://mobile.twitter.com/certikorg/status/1373469189583867904] (Jan 10, 2022)</ref>

	[https://rugdoc.io/project/sageswap/ Sageswap – RugDoc] (Jan 12)		<ref name="rugdoc-5540">[https://rugdoc.io/project/sageswap/ Sageswap – RugDoc] (Jan 12, 2022)</ref>

	[https://web.archive.org/web/20210320225321/https://sageswap.finance/ SageSwap] (Jan 12)		<ref name="sageswapfinancearchive-5541">[https://web.archive.org/web/20210320225321/https://sageswap.finance/ SageSwap] (Jan 12, 2022)</ref>

	[https://web.archive.org/web/20210320233753/https://sageswap.finance/ SageSwap] (Jan 12)		<ref name="sageswapfinancearchive-5542">[https://web.archive.org/web/20210320233753/https://sageswap.finance/ SageSwap] (Jan 12, 2022)</ref>

	[https://web.archive.org/web/20210321015655/https://sageswap.finance/ SageSwap] (Jan 12)		<ref name="sageswapfinancearchive-5543">[https://web.archive.org/web/20210321015655/https://sageswap.finance/ SageSwap] (Jan 12, 2022)</ref>

	[https://web.archive.org/web/20210322053453/http://sageswap.finance/ https://web.archive.org/web/20210322053453/http://sageswap.finance/] (Jan 12)		<ref name="sageswapfinancearchive-5544">[https://web.archive.org/web/20210322053453/http://sageswap.finance/ https://web.archive.org/web/20210322053453/http://sageswap.finance/] (Jan 12, 2022)</ref>

	[https://explorer.bitquery.io/bsc/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0/senders SageSwap Token (SAGE) ERC20 Token Exchange volume \| Binance Smart Chain Mainnet] (Jan 12)		<ref name="bitqueryexplorer-5545">[https://explorer.bitquery.io/bsc/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0/senders SageSwap Token (SAGE) ERC20 Token Exchange volume \| Binance Smart Chain Mainnet] (Jan 12, 2022)</ref>

	[https://bscscan.com/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0?a=0x25d329d69a2496e1ef44907d266183a62283430a https://bscscan.com/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0?a=0x25d329d69a2496e1ef44907d266183a62283430a] (Jan 12)		<ref name="bscscan-5546">[https://bscscan.com/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0?a=0x25d329d69a2496e1ef44907d266183a62283430a https://bscscan.com/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0?a=0x25d329d69a2496e1ef44907d266183a62283430a] (Jan 12, 2022)</ref>

	[https://bscscan.com/tx/0x7513926f0e7d3d5025248131cdd4826236eab9fd782af080192f7abc1df9fcc4 https://bscscan.com/tx/0x7513926f0e7d3d5025248131cdd4826236eab9fd782af080192f7abc1df9fcc4] (Jan 12)		<ref name="bscscan-5547">[https://bscscan.com/tx/0x7513926f0e7d3d5025248131cdd4826236eab9fd782af080192f7abc1df9fcc4 https://bscscan.com/tx/0x7513926f0e7d3d5025248131cdd4826236eab9fd782af080192f7abc1df9fcc4] (Jan 12, 2022)</ref>

	[https://bscscan.com/address/0x418493Dd85754ACBFbe82E5e56e2455167F28173#code https://bscscan.com/address/0x418493Dd85754ACBFbe82E5e56e2455167F28173#code] (Jan 12)		<ref name="bscscan-5548">[https://bscscan.com/address/0x418493Dd85754ACBFbe82E5e56e2455167F28173#code https://bscscan.com/address/0x418493Dd85754ACBFbe82E5e56e2455167F28173#code] (Jan 12, 2022)</ref>

	[https://www.reddit.com/r/CryptoMoonShots/comments/m9k4rg/sageswap_newest_3rd_generation_defi_yield_farm_on/ SageSwap - Newest 3rd generation DeFi Yield Farm on BSC ! : CryptoMoonShots] (Jan 12)		<ref name="reddit-5549">[https://www.reddit.com/r/CryptoMoonShots/comments/m9k4rg/sageswap_newest_3rd_generation_defi_yield_farm_on/ SageSwap - Newest 3rd generation DeFi Yield Farm on BSC ! : CryptoMoonShots] (Jan 12, 2022)</ref>

	[https://foundation.app/@sageswap SAGESWAP (@sageswap) \| Foundation] (Jan 12)		<ref name="foundationapp-5550">[https://foundation.app/@sageswap SAGESWAP (@sageswap) \| Foundation] (Jan 12, 2022)</ref>

	[https://cryptobuyingtips.com/guides/how-to-buy-sage-finance-saft https://cryptobuyingtips.com/guides/how-to-buy-sage-finance-saft] (Jan 12)		<ref name="cryptobuyingtips-5551">[https://cryptobuyingtips.com/guides/how-to-buy-sage-finance-saft https://cryptobuyingtips.com/guides/how-to-buy-sage-finance-saft] (Jan 12, 2022)</ref>

	[https://coincodex.com/crypto/sage-finance/ Sage Finance (SAFT) Price, Chart, Value & Market Cap \| CoinCodex] (Jan 12)		<ref name="coincodex-5552">[https://coincodex.com/crypto/sage-finance/ Sage Finance (SAFT) Price, Chart, Value & Market Cap \| CoinCodex] (Jan 12, 2022)</ref>

	[https://isthiscoinascam.com/check/sage-finance Is Sage Finance A Scam?] (Jan 12)		<ref name="isthiscoinascam-5553">[https://isthiscoinascam.com/check/sage-finance Is Sage Finance A Scam?] (Jan 12, 2022)</ref>

	[https://www.coingecko.com/en/coins/sage-finance Sage Finance (SAFT) price today, chart, market cap & news \| CoinGecko] (Jan 12)		<ref name="coingecko-5554">[https://www.coingecko.com/en/coins/sage-finance Sage Finance (SAFT) price today, chart, market cap & news \| CoinGecko] (Jan 12, 2022)</ref>

	[https://web.archive.org/web/20210320233900/https://twitter.com/sageswap SageSwap (@sageswap) \| Twitter] (Jan 12)		<ref name="sageswaptwitterarchive-5555">[https://web.archive.org/web/20210320233900/https://twitter.com/sageswap SageSwap (@sageswap) \| Twitter] (Jan 12, 2022)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/sageswaprugpull.php}} SageSwapThe site appears to have launched around March 20th, 2021 and failed to load after March 22nd, 2021. The last visible indication of Total Value Locked in the smart contract hot wallet was $32,451 USD. In the end, it appears that the developers had built a small function in the smart contract to allow them to steal any invested funds. This..."

2023-01-26T05:33:33Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/sageswaprugpull.php}} thumb|SageSwapThe site appears to have launched around March 20th, 2021 and failed to load after March 22nd, 2021. The last visible indication of Total Value Locked in the smart contract hot wallet was $32,451 USD. In the end, it appears that the developers had built a small function in the smart contract to allow them to steal any invested funds. This..."

New page

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

[[File:Sageswap.jpg|thumb|SageSwap]]The site appears to have launched around March 20th, 2021 and failed to load after March 22nd, 2021. The last visible indication of Total Value Locked in the smart contract hot wallet was $32,451 USD. In the end, it appears that the developers had built a small function in the smart contract to allow them to steal any invested funds.

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

== About SageSwap ==

"3rd Generation Deflationary AMM and Yield Farming on Binance Smart Chain"

"What Is Sage Finance Token (SAFT)? Sage Finance is an open-source project launched on the Binance Smart chain and the token is Sage Finance Token (SAFT). Launched on April 1st, 2021 with smart contract 0xD4ED4a27ff7EaE121C487D841e530Cd0dA65c6b5. SageSwap (launching in May) is a Binance-based decentralized exchange protocol. The Binance smartchain does not need any external dependencies to run."

"Sageswap aims to be a user-friendly exchange with high gas performance, censorship resistance, and zero rent extraction. It is beneficial to traders and works especially well as a module of other smart contracts that need on-chain liquidity assurance. What Makes Sage Finance Unique? The Sage Finance token SAFT is a BEP20 token that originally launched on Binance Smart Chain. The main function of SAFT is to incentivize the liquidity provision to the SageSwap platform. Users can stake their tokens to earn rewards, which is done by depositing Liquidity Provider tokens and locking them up. This is known as farming and is rewarded by the system with SAFT tokens. The tokens can be un-staked with zero holding time."

"SAFT gives users the opportunity to invest and increase returns in the future but comes with risks. How Many Sage Finance (SAFT) Token Are There in Circulation? There is a maximum supply of 10 million SAFT — but at the time of writing, there was a circulating supply of about 8 milliom. 2 rounds of presale of SAFT tokens were held between April 4, 2021 and April 9, 2021 on DxSale. Approximately 2.5 million SAFT was used as Liquidity on PancakeSwap and locked by DxSale. Meanwhile, approximately 4.5 million SAFT was sold during the presale and additional 1 million was dispersed to airdroppers and for promotions. Last but not least, 350 thousand SAFT was charged by DxSale as platform used for conducting the presale.

"Overall, no amount of SAFT’s total supply was given to the project’s founders. They all participated in the presale with investors for a fair launch. How Is the Sage Finance Network Secured? SAFT can be securely stored on supported wallets that are connected to the Binance Smart Chain. These include MetaMask, TrustWallet, TokenPocket and WalletConnect. Where Can You Buy Sage Finance Token (SAFT)? As a new project on the Binance Smart Chain, SAFT can be bought from PancakeSwap PancakeSwap Instructions"

"In celebration of our launch, we will be giving away $50 in $SAGE to the first 5000 people that RETWEET, FOLLOW, and post their #BSC address below!"

"Has this code which we are unsure about – only briefly checked the rest which was otherwise fine. DYOR"

"Another community alert inbound on a project called SageSwap may indicate high risks. One line of suspicious code under a legit-named function hiding under Contract Ownable...Please DYOR with caution before interacting with any #DeFi projects."

"function updateFeeAddress(address _feeAddress) public onlyOwner { IBEP20(_feeAddress).transfer(_treasury, IBEP20(_feeAddress).balanceOf(address(this))); }"

"…and it rugged"

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 - SageSwap Rug Pull
!Date
!Event
!Description
|-
|March 20th, 2021 9:16:03 PM
|First Event
|This is an expanded 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 ==
It is unknown how much was recovered.

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 ==
Funds stored in smart contract hot wallets face many risks, especially when the wallet is controlled by an anonymous developer. For proper protection, uninsured funds should be stored in a multi-sig wallet with all keys stored offline and held by known and trained individuals. At least two seprate reviews of this setup should be conducted.

== References ==
[https://mobile.twitter.com/certikorg/status/1373469189583867904 https://mobile.twitter.com/certikorg/status/1373469189583867904] (Jan 10)

[https://rugdoc.io/project/sageswap/ Sageswap – RugDoc] (Jan 12)

[https://web.archive.org/web/20210320225321/https://sageswap.finance/ SageSwap] (Jan 12)

[https://web.archive.org/web/20210320233753/https://sageswap.finance/ SageSwap] (Jan 12)

[https://web.archive.org/web/20210321015655/https://sageswap.finance/ SageSwap] (Jan 12)

[https://web.archive.org/web/20210322053453/http://sageswap.finance/ https://web.archive.org/web/20210322053453/http://sageswap.finance/] (Jan 12)

[https://explorer.bitquery.io/bsc/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0/senders SageSwap Token (SAGE) ERC20 Token Exchange volume | Binance Smart Chain Mainnet] (Jan 12)

[https://bscscan.com/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0?a=0x25d329d69a2496e1ef44907d266183a62283430a https://bscscan.com/token/0x9e0bc04dad42429523fd375b9a0a2384d1738fa0?a=0x25d329d69a2496e1ef44907d266183a62283430a] (Jan 12)

[https://bscscan.com/tx/0x7513926f0e7d3d5025248131cdd4826236eab9fd782af080192f7abc1df9fcc4 https://bscscan.com/tx/0x7513926f0e7d3d5025248131cdd4826236eab9fd782af080192f7abc1df9fcc4] (Jan 12)

[https://bscscan.com/address/0x418493Dd85754ACBFbe82E5e56e2455167F28173#code https://bscscan.com/address/0x418493Dd85754ACBFbe82E5e56e2455167F28173#code] (Jan 12)

[https://www.reddit.com/r/CryptoMoonShots/comments/m9k4rg/sageswap_newest_3rd_generation_defi_yield_farm_on/ SageSwap - Newest 3rd generation DeFi Yield Farm on BSC ! : CryptoMoonShots] (Jan 12)

[https://foundation.app/@sageswap SAGESWAP (@sageswap) | Foundation] (Jan 12)

[https://cryptobuyingtips.com/guides/how-to-buy-sage-finance-saft https://cryptobuyingtips.com/guides/how-to-buy-sage-finance-saft] (Jan 12)

[https://coincodex.com/crypto/sage-finance/ Sage Finance (SAFT) Price, Chart, Value & Market Cap | CoinCodex] (Jan 12)

[https://isthiscoinascam.com/check/sage-finance Is Sage Finance A Scam?] (Jan 12)

[https://www.coingecko.com/en/coins/sage-finance Sage Finance (SAFT) price today, chart, market cap & news | CoinGecko] (Jan 12)

[https://web.archive.org/web/20210320233900/https://twitter.com/sageswap SageSwap (@sageswap) | Twitter] (Jan 12)