Azoundria: Created page with "{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/slurpycoinbuybackmechanismsandwicharbitrageexploit.php}} {{Unattributed Sources}} SlurpycoinSlurpyCoin ($SLURPY) is a cryptocurrency with a unique "self-slurping" mechanism, which combines automatic buybacks and burns to reduce supply and potentially increase the coin's price. A portion of each transaction is redistributed to holders, and a portion is held..."

2025-01-28T22:11:56Z

Created page with "{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/slurpycoinbuybackmechanismsandwicharbitrageexploit.php}} {{Unattributed Sources}} thumb|SlurpycoinSlurpyCoin ($SLURPY) is a cryptocurrency with a unique "self-slurping" mechanism, which combines automatic buybacks and burns to reduce supply and potentially increase the coin's price. A portion of each transaction is redistributed to holders, and a portion is held..."

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{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/slurpycoinbuybackmechanismsandwicharbitrageexploit.php}}
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[[File:Slurpycoin.jpg|thumb|Slurpycoin]]SlurpyCoin ($SLURPY) is a cryptocurrency with a unique "self-slurping" mechanism, which combines automatic buybacks and burns to reduce supply and potentially increase the coin's price. A portion of each transaction is redistributed to holders, and a portion is held in the contract until enough tokens are stored to be sold for BNB. After 200 sales, the stored BNB is used to buy and burn $SLURPY tokens, creating a cycle of self-sustaining growth. While SlurpyCoin offers a fun, community-driven vibe, it was recently targeted in an attack where the attacker manipulated the price, profiting around $3,000. The project appears to have been abandoned at some point after December 2021.<ref name="odailynews-17630" /><ref name="certikalerttwitter-17631" /><ref name="bscscan-17632" /><ref name="bscscan-17633" /><ref name="lunaraycotwitter-17634" /><ref name="altcoinsproftwitter-17635" /><ref name="dexcryptocointwitter-17636" /><ref name="misslee911twitter-17637" /><ref name="cryptomonger762twitter-17638" /><ref name="certikcntwitter-17639" /><ref name="bscscan-17640" /><ref name="bscscan-17641" /><ref name="bscscan-17642" /><ref name="jrkofftwitter-17643" /><ref name="snakehunter777twitter-17644" /><ref name="slurpycoinarchive-17645" /><ref name="slurpycoinarchive-17646" /><ref name="slurpycointwitter-17647" /><ref name="bscscan-17648" />

== About SlurpyCoin ==
SlurpyCoin ($SLURPY) is a unique cryptocurrency that features a self-slurping mechanism, which combines automatic buybacks and burns to reduce supply and potentially increase the coin's price. With each transaction, 3% is redistributed to holders, and 2% is held in the contract until enough $SLURPY is stored to be sold for BNB. After 200 sales, the BNB is used to buy and burn $SLURPY tokens. This innovative approach, called "slurponomics," aims to create a cycle of self-sustaining growth. SlurpyCoin is currently available for trading on PancakeSwap and offers a fun community vibe, including a song contest for an airdrop.

"SlurpyCoin ($SLURPY) uses a never before seen slurponomics system to not only create tasty dips, but slurp them up itself. Here’s how it works: 3% of every transaction is redistributed to token holders. 2% of every transaction is held in the contract until 100k $SLURPY is stored, which it will then sell for BNB. That BNB is then held by the contract, and after it has sold $SLURPY 200 times, the contract then uses all of the stored BNB to buy and burn $SLURPY, effectively slurping its own dip."

== 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 ==
Slurpycoin on the Binance Smart Chain was targeted by a flash loan attack, where the attacker exploited the token's buyback mechanism to manipulate its price and made around $3,000 through sandwich arbitrage.
{| class="wikitable"
|+Key Event Timeline - Slurpycoin Buyback Mechanism Sandwich Arbitrage Exploit
!Date
!Event
!Description
|-
|June 24th, 2021 7:52:38 PM MDT
|SlurpyCoin Token Initial Launch
|The Slurpycoin token is first launched on the Binance Smart Chain.
|-
|December 10th, 2021 5:26:00 PM MST
|SlurpyCoin Final Tweet
|SlurpyCoin retweets their final tweet prior to at least 3 years of silence.
|-
|December 18th, 2024 1:15:16 PM MST
|Exploit Transaction Completed
|The exploit transaction is completed on Binance Smart Chain.
|-
|December 18th, 2024 8:07:00 PM MST
|CertiK Posts Alert
|CertiK posts an alert about the incident including screenshots of the transaction. The actual URL of the transaction is not included.
|}

== Technical Details ==
This attack is also linked to a previous vulnerability that resulted in a loss of approximately $10,000 in MintRisesPrices (WMRP) tokens on July 2nd.

== Total Amount Lost ==
Amount of loss: $ 3,000

The total amount lost has been estimated at $3,000 USD.

== 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?
== 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:Regulators:End}}

== References ==
<references><ref name="odailynews-17630">[https://www.odaily.news/newsflash/408377 BSC上Slurpycoin遭闪电贷攻击，攻击者利用回购机制操纵代币价格获利_快讯-odaily] (Accessed Jan 28, 2025)</ref>

<ref name="certikalerttwitter-17631">[https://twitter.com/CertiKAlert/status/1869580379675590731 @CertiKAlert Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="bscscan-17632">[https://bscscan.com/tx/0x68e787a40f3da4a70c09c7cff47aaabd842d55a26deae5945c7fe24f40e19d71 BNB Smart Chain Transaction Hash (Txhash) Details | BscScan] (Accessed Jan 28, 2025)</ref>

<ref name="bscscan-17633">[https://bscscan.com/tx/0x6c729ee778332244de099ba0cb68808fcd7be4a667303fcdf2f54dd4b3d29051 BNB Smart Chain Transaction Hash (Txhash) Details | BscScan] (Accessed Jan 28, 2025)</ref>

<ref name="lunaraycotwitter-17634">[https://twitter.com/lunaray_co/status/1869588665934176443 @lunaray_co Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="altcoinsproftwitter-17635">[https://twitter.com/AltCoinsProf/status/1869646233448730771 @AltCoinsProf Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="dexcryptocointwitter-17636">[https://twitter.com/Dex_Crypto_coin/status/1869591781400301705 @Dex_Crypto_coin Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="misslee911twitter-17637">[https://twitter.com/Miss_Lee911/status/1869591660138746197 @Miss_Lee911 Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="cryptomonger762twitter-17638">[https://twitter.com/CryptoMonger762/status/1869784474915070116 @CryptoMonger762 Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="certikcntwitter-17639">[https://twitter.com/CertiK_CN/status/1869617233019945227 @CertiK_CN Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="bscscan-17640">[https://bscscan.com/token/0x72c114a1a4abc65be2be3e356eede296dbb8ba4c Slurpycoin (SLURPY) Token Tracker | BscScan] (Accessed Jan 28, 2025)</ref>

<ref name="bscscan-17641">[https://bscscan.com/address/0x72c114a1a4abc65be2be3e356eede296dbb8ba4c SlurpyCoin | Address 0x72c114a1a4abc65be2be3e356eede296dbb8ba4c | BscScan] (Accessed Jan 28, 2025)</ref>

<ref name="bscscan-17642">[https://bscscan.com/tx/0x0dbee1c7282a62557d31a989bb413c3b8bdd9a17ac494757974d9dcaa7e5a86c BNB Smart Chain Transaction Hash (Txhash) Details | BscScan] (Accessed Jan 28, 2025)</ref>

<ref name="jrkofftwitter-17643">[https://twitter.com/JRKoff/status/1411443684709736450 @JRKoff Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="snakehunter777twitter-17644">[https://twitter.com/snakehunter777/status/1411445119773937664 @snakehunter777 Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="slurpycoinarchive-17645">[https://web.archive.org/web/20210706182121/https://www.slurpycoin.com/ SlurpyCoin] (Accessed Jan 28, 2025)</ref>

<ref name="slurpycoinarchive-17646">[https://web.archive.org/web/20210623214214/https://www.slurpycoin.com/ SlurpyCoin] (Accessed Jan 28, 2025)</ref>

<ref name="slurpycointwitter-17647">[https://twitter.com/slurpycoin @slurpycoin Twitter] (Accessed Jan 28, 2025)</ref>

<ref name="bscscan-17648">[https://bscscan.com/address/0x132D9bbDBE718365aF6Cc9e43bac109A9A53B138 Slurpycoin exploiter | Address 0x132D9bbDBE718365aF6Cc9e43bac109A9A53B138 | BscScan] (Accessed Jan 28, 2025)</ref></references>

Slurpycoin Buyback Mechanism Sandwich Arbitrage Exploit - Revision history