Tin Finance Exit Scam - Revision history

Azoundria at 21:45, 10 May 2024

2024-05-10T21:45:06Z

← Older revision		Revision as of 15:45, 10 May 2024
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	It is not known if any funds were recovered.		It is not known if any funds were recovered.

	This is a global/international case not involving a specific country.<ref name="vcdotru-1458" /><ref name="slowmisthacked-678" /><ref name="bscscan-2500" /><ref name="cryptokiemtien-2501" /><ref name="newairdropalertblog-2502" /><ref name="tinfinancearchive-2503" /><ref name="eternia-2504" /><ref name="cryptotox-2505" /><ref name="beermoneyforum-2506" /><ref name="bscdotnews-2497" /><ref name="bscscan-2507" /><ref name="bscscan-2508" /><ref name="cryptotox-2509" /><ref name="explorer-2510" /><ref name="cryptophco-2511" />		This is a global/international case not involving a specific country.<ref name="vcdotru-1458" /><ref name="slowmisthacked-678" /><ref name="bscscan-2500" /><ref name="cryptokiemtien-2501" /><ref name="newairdropalertblog-2502" /><ref name="tinfinancearchive-2503" /><ref name="eternia-2504" /><ref name="cryptotox-2505" /><ref name="beermoneyforum-2506" /><ref name="bscdotnews-2497" /><ref name="bscscan-2507" /><ref name="bscscan-2508" /><ref name="cryptotox-2509" /><ref name="explorer-2510" /><ref name="cryptophco-2511" /><ref name="comparitech-10032" />

	== About Tin Finance ==		== About Tin Finance ==
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	<ref name="explorer-2510">[https://explorer.bitquery.io/bsc/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) ERC20 Token Analytics \| Binance Smart Chain Mainnet \| Bitquery] (Aug 14, 2021)</ref>		<ref name="explorer-2510">[https://explorer.bitquery.io/bsc/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) ERC20 Token Analytics \| Binance Smart Chain Mainnet \| Bitquery] (Aug 14, 2021)</ref>

	<ref name="cryptophco-2511">[https://cryptophco.wordpress.com/2021/01/24/tin-finance-airdrop/ Tin Finance Airdrop (Scam) – Crypto PH Airdrops and Giveaways] (Aug 14, 2021)</ref></references>		<ref name="cryptophco-2511">[https://cryptophco.wordpress.com/2021/01/24/tin-finance-airdrop/ Tin Finance Airdrop (Scam) – Crypto PH Airdrops and Giveaways] (Aug 14, 2021)</ref>

			<ref name="comparitech-10032">[https://www.comparitech.com/crypto/cryptocurrency-scams/ Worldwide crypto & NFT rug pulls and scams tracker - Comparitech] (Dec 15, 2022)</ref></references>

Azoundria at 18:49, 2 May 2023

2023-05-02T18:49:31Z

← Older revision		Revision as of 12:49, 2 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/tinfinanceexitscam.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/tinfinanceexitscam.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	[[File:Tinfinance.jpg\|thumb\|Tin Finance]]Tin Finance promoted a large token pre-sale for their smart contract through an airdrop promotion.		[[File:Tinfinance.jpg\|thumb\|Tin Finance]]Tin Finance promoted a large token pre-sale for their smart contract through an airdrop promotion.
Line 8:		Line 8:
	It is not known if any funds were recovered.		It is not known if any funds were recovered.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="vcdotru-1458" /><ref name="slowmisthacked-678" /><ref name="bscscan-2500" /><ref name="cryptokiemtien-2501" /><ref name="newairdropalertblog-2502" /><ref name="tinfinancearchive-2503" /><ref name="eternia-2504" /><ref name="cryptotox-2505" /><ref name="beermoneyforum-2506" /><ref name="bscdotnews-2497" /><ref name="bscscan-2507" /><ref name="bscscan-2508" /><ref name="cryptotox-2509" /><ref name="explorer-2510" /><ref name="cryptophco-2511" />
	<ref name="vcdotru-1458" /><ref name="slowmisthacked-678" /><ref name="bscscan-2500" /><ref name="cryptokiemtien-2501" /><ref name="newairdropalertblog-2502" /><ref name="tinfinancearchive-2503" /><ref name="eternia-2504" /><ref name="cryptotox-2505" /><ref name="beermoneyforum-2506" /><ref name="bscdotnews-2497" /><ref name="bscscan-2507" /><ref name="bscscan-2508" /><ref name="cryptotox-2509" /><ref name="explorer-2510" /><ref name="cryptophco-2511" />

	== About Tin Finance ==		== About Tin Finance ==
Line 61:		Line 60:
	!Description		!Description
	\|-		\|-
	\|January 26th, 2021 ~~12:00:00 AM~~		\|January 26th, 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.
Line 69:		Line 68:
	\|		\|
	\|}		\|}

			== 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 ==
			Tin Finance was run by an anonymous team, possibly a single person of unknown background. The funds were not stored offline, nor in a multi-signature arrangement.
			== 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}}
	~~Tin Finance was run by an anonymous team, possibly a single person of unknown background. The funds were not stored offline, nor in a multi-signature arrangement.~~

	== References ==		== References ==
	<references><ref name="vcdotru-1458">[https://vc.ru/finance/203315-popcornswap-sharkyield-zap-finance-tin-finance-multi-financial-ostorozhno-ekzit-skamy-smi Popcornswap, SharkYield, Zap Finance, Tin Finance, Multi Financial — осторожно] (Jul 9, 2021)</ref>		<references><ref name="vcdotru-1458">[https://vc.ru/finance/203315-popcornswap-sharkyield-zap-finance-tin-finance-multi-financial-ostorozhno-ekzit-skamy-smi Popcornswap, SharkYield, Zap Finance, Tin Finance, Multi Financial — осторожно] (Jul 10, 2021)</ref>

	<ref name="slowmisthacked-678">[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 17, 2021)</ref>		<ref name="slowmisthacked-678">[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 18, 2021)</ref>

	<ref name="bscscan-2500">[https://bscscan.com/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) Token Tracker \| BscScan] (Aug 13, 2021)</ref>		<ref name="bscscan-2500">[https://bscscan.com/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) Token Tracker \| BscScan] (Aug 14, 2021)</ref>

	<ref name="cryptokiemtien-2501">[https://cryptokiemtien.com/tin-finance-crypto-airdrop-get-free-5-of-tin-tokens/ Tin Finance Crypto Airdrop - Get Free $5 Of TIN Tokens -] (Aug 13, 2021)</ref>		<ref name="cryptokiemtien-2501">[https://cryptokiemtien.com/tin-finance-crypto-airdrop-get-free-5-of-tin-tokens/ Tin Finance Crypto Airdrop - Get Free $5 Of TIN Tokens -] (Aug 14, 2021)</ref>

	<ref name="newairdropalertblog-2502">[https://newairdropalert.blogspot.com/2021/01/tin-finance-airdrop-total-to-earn-per.html TIN FINANCE AIRDROP Total to earn per participant 5 TIN and Per referral = 1 TIN] (Aug 13, 2021)</ref>		<ref name="newairdropalertblog-2502">[https://newairdropalert.blogspot.com/2021/01/tin-finance-airdrop-total-to-earn-per.html TIN FINANCE AIRDROP Total to earn per participant 5 TIN and Per referral = 1 TIN] (Aug 14, 2021)</ref>

	<ref name="tinfinancearchive-2503">[https://web.archive.org/web/20210126225555/http://tin.finance/ Tin Finance Swap] (Aug 13, 2021)</ref>		<ref name="tinfinancearchive-2503">[https://web.archive.org/web/20210126225555/http://tin.finance/ Tin Finance Swap] (Aug 14, 2021)</ref>

	<ref name="eternia-2504">[https://eternia.to/threads/5-tin-finance-airdrop.68838/ $ 5 Tin Finance Airdrop - Nulled and Leak Forums] (Aug 13, 2021)</ref>		<ref name="eternia-2504">[https://eternia.to/threads/5-tin-finance-airdrop.68838/ $ 5 Tin Finance Airdrop - Nulled and Leak Forums] (Aug 14, 2021)</ref>

	<ref name="cryptotox-2505">[https://cryptotox.com/tinfinance/ Tin Finance] (Aug 13, 2021)</ref>		<ref name="cryptotox-2505">[https://cryptotox.com/tinfinance/ Tin Finance] (Aug 14, 2021)</ref>

	<ref name="beermoneyforum-2506">[https://www.beermoneyforum.com/threads/airdrop-tin-finance-is-a-pancakeswap-exchange-fork-running-in-binance-smart-chain.121208/ ☑️NEW - Airdrop Tin Finance is a Pancakeswap exchange Fork running in Binance Smart Chain \| BeerMoneyForum.com - We Help Each Other to Make Money Online] (Aug 13, 2021)</ref>		<ref name="beermoneyforum-2506">[https://www.beermoneyforum.com/threads/airdrop-tin-finance-is-a-pancakeswap-exchange-fork-running-in-binance-smart-chain.121208/ ☑️NEW - Airdrop Tin Finance is a Pancakeswap exchange Fork running in Binance Smart Chain \| BeerMoneyForum.com - We Help Each Other to Make Money Online] (Aug 14, 2021)</ref>

	<ref name="bscdotnews-2497">[https://www.bsc.news/post/liquidity-siphon-rugpulls-on-the-binance-smart-chain What Are Liquidity Siphon Rugpulls on Binance Smart Chain?] (Aug 13, 2021)</ref>		<ref name="bscdotnews-2497">[https://www.bsc.news/post/liquidity-siphon-rugpulls-on-the-binance-smart-chain What Are Liquidity Siphon Rugpulls on Binance Smart Chain?] (Aug 14, 2021)</ref>

	<ref name="bscscan-2507">[https://www.bscscan.com/address/0xde508c7a6d374ecd29e0f45a92472ddc655394e7 Address 0xde508c7a6d374ecd29e0f45a92472ddc655394e7 \| BscScan] (Aug 13, 2021)</ref>		<ref name="bscscan-2507">[https://www.bscscan.com/address/0xde508c7a6d374ecd29e0f45a92472ddc655394e7 Address 0xde508c7a6d374ecd29e0f45a92472ddc655394e7 \| BscScan] (Aug 14, 2021)</ref>

	<ref name="bscscan-2508">[https://www.bscscan.com/address/0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 Address 0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 \| BscScan] (Aug 13, 2021)</ref>		<ref name="bscscan-2508">[https://www.bscscan.com/address/0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 Address 0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 \| BscScan] (Aug 14, 2021)</ref>

	<ref name="cryptotox-2509">[https://cryptotox.com/news/10103-chetyre-defi-proekta-na-binance-smart-chain-sovershili-ekzit-skam-na-54-tysiachi-tokenov-bnb Четыре DeFi-проекта на Binance Smart Chain совершили экзит-скам на 54 тысячи токенов BNB \| Cryptotox] (Aug 13, 2021)</ref>		<ref name="cryptotox-2509">[https://cryptotox.com/news/10103-chetyre-defi-proekta-na-binance-smart-chain-sovershili-ekzit-skam-na-54-tysiachi-tokenov-bnb Четыре DeFi-проекта на Binance Smart Chain совершили экзит-скам на 54 тысячи токенов BNB \| Cryptotox] (Aug 14, 2021)</ref>

	<ref name="explorer-2510">[https://explorer.bitquery.io/bsc/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) ERC20 Token Analytics \| Binance Smart Chain Mainnet \| Bitquery] (Aug 13, 2021)</ref>		<ref name="explorer-2510">[https://explorer.bitquery.io/bsc/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) ERC20 Token Analytics \| Binance Smart Chain Mainnet \| Bitquery] (Aug 14, 2021)</ref>

	<ref name="cryptophco-2511">[https://cryptophco.wordpress.com/2021/01/24/tin-finance-airdrop/ Tin Finance Airdrop (Scam) – Crypto PH Airdrops and Giveaways] (Aug 13, 2021)</ref></references>		<ref name="cryptophco-2511">[https://cryptophco.wordpress.com/2021/01/24/tin-finance-airdrop/ Tin Finance Airdrop (Scam) – Crypto PH Airdrops and Giveaways] (Aug 14, 2021)</ref></references>

Azoundria at 17:50, 17 February 2023

2023-02-17T17:50:55Z

← Older revision		Revision as of 11:50, 17 February 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/tinfinanceexitscam.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/tinfinanceexitscam.php}}
			{{Unattributed Citations}}

	[[File:Tinfinance.jpg\|thumb\|Tin Finance]]Tin Finance promoted a large token pre-sale for their smart contract through an airdrop promotion.		[[File:Tinfinance.jpg\|thumb\|Tin Finance]]Tin Finance promoted a large token pre-sale for their smart contract through an airdrop promotion.
Line 8:		Line 9:

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="vcdotru-1458" /><ref name="slowmisthacked-678" /><ref name="bscscan-2500" /><ref name="cryptokiemtien-2501" /><ref name="newairdropalertblog-2502" /><ref name="tinfinancearchive-2503" /><ref name="eternia-2504" /><ref name="cryptotox-2505" /><ref name="beermoneyforum-2506" /><ref name="bscdotnews-2497" /><ref name="bscscan-2507" /><ref name="bscscan-2508" /><ref name="cryptotox-2509" /><ref name="explorer-2510" /><ref name="cryptophco-2511" />

	== About Tin Finance ==		== About Tin Finance ==
Line 39:		Line 41:

	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 61:		Line 62:
	\|-		\|-
	\|January 26th, 2021 12:00:00 AM		\|January 26th, 2021 12:00:00 AM
	\|~~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 74:		Line 71:

	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost ~~is unknown~~.		The total amount lost has been estimated at $140,000 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 85:		Line 82:

	== 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 96:		Line 93:

	== References ==		== References ==
	[https://vc.ru/finance/203315-popcornswap-sharkyield-zap-finance-tin-finance-multi-financial-ostorozhno-ekzit-skamy-smi Popcornswap, SharkYield, Zap Finance, Tin Finance, Multi Financial — осторожно] (Jul 9)		<references><ref name="vcdotru-1458">[https://vc.ru/finance/203315-popcornswap-sharkyield-zap-finance-tin-finance-multi-financial-ostorozhno-ekzit-skamy-smi Popcornswap, SharkYield, Zap Finance, Tin Finance, Multi Financial — осторожно] (Jul 9, 2021)</ref>

	[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 17)		<ref name="slowmisthacked-678">[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 17, 2021)</ref>

	[https://bscscan.com/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) Token Tracker \| BscScan] (Aug 13)		<ref name="bscscan-2500">[https://bscscan.com/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) Token Tracker \| BscScan] (Aug 13, 2021)</ref>

	[https://cryptokiemtien.com/tin-finance-crypto-airdrop-get-free-5-of-tin-tokens/ Tin Finance Crypto Airdrop - Get Free $5 Of TIN Tokens -] (Aug 13)		<ref name="cryptokiemtien-2501">[https://cryptokiemtien.com/tin-finance-crypto-airdrop-get-free-5-of-tin-tokens/ Tin Finance Crypto Airdrop - Get Free $5 Of TIN Tokens -] (Aug 13, 2021)</ref>

	[https://newairdropalert.blogspot.com/2021/01/tin-finance-airdrop-total-to-earn-per.html TIN FINANCE AIRDROP Total to earn per participant 5 TIN and Per referral = 1 TIN] (Aug 13)		<ref name="newairdropalertblog-2502">[https://newairdropalert.blogspot.com/2021/01/tin-finance-airdrop-total-to-earn-per.html TIN FINANCE AIRDROP Total to earn per participant 5 TIN and Per referral = 1 TIN] (Aug 13, 2021)</ref>

	[https://web.archive.org/web/20210126225555/http://tin.finance/ Tin Finance Swap] (Aug 13)		<ref name="tinfinancearchive-2503">[https://web.archive.org/web/20210126225555/http://tin.finance/ Tin Finance Swap] (Aug 13, 2021)</ref>

	[https://eternia.to/threads/5-tin-finance-airdrop.68838/ $ 5 Tin Finance Airdrop - Nulled and Leak Forums] (Aug 13)		<ref name="eternia-2504">[https://eternia.to/threads/5-tin-finance-airdrop.68838/ $ 5 Tin Finance Airdrop - Nulled and Leak Forums] (Aug 13, 2021)</ref>

	[https://cryptotox.com/tinfinance/ Tin Finance] (Aug 13)		<ref name="cryptotox-2505">[https://cryptotox.com/tinfinance/ Tin Finance] (Aug 13, 2021)</ref>

	[https://www.beermoneyforum.com/threads/airdrop-tin-finance-is-a-pancakeswap-exchange-fork-running-in-binance-smart-chain.121208/ ☑️NEW - Airdrop Tin Finance is a Pancakeswap exchange Fork running in Binance Smart Chain \| BeerMoneyForum.com - We Help Each Other to Make Money Online] (Aug 13)		<ref name="beermoneyforum-2506">[https://www.beermoneyforum.com/threads/airdrop-tin-finance-is-a-pancakeswap-exchange-fork-running-in-binance-smart-chain.121208/ ☑️NEW - Airdrop Tin Finance is a Pancakeswap exchange Fork running in Binance Smart Chain \| BeerMoneyForum.com - We Help Each Other to Make Money Online] (Aug 13, 2021)</ref>

	[https://www.bsc.news/post/liquidity-siphon-rugpulls-on-the-binance-smart-chain What Are Liquidity Siphon Rugpulls on Binance Smart Chain?] (Aug 13)		<ref name="bscdotnews-2497">[https://www.bsc.news/post/liquidity-siphon-rugpulls-on-the-binance-smart-chain What Are Liquidity Siphon Rugpulls on Binance Smart Chain?] (Aug 13, 2021)</ref>

	[https://www.bscscan.com/address/0xde508c7a6d374ecd29e0f45a92472ddc655394e7 Address 0xde508c7a6d374ecd29e0f45a92472ddc655394e7 \| BscScan] (Aug 13)		<ref name="bscscan-2507">[https://www.bscscan.com/address/0xde508c7a6d374ecd29e0f45a92472ddc655394e7 Address 0xde508c7a6d374ecd29e0f45a92472ddc655394e7 \| BscScan] (Aug 13, 2021)</ref>

	[https://www.bscscan.com/address/0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 Address 0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 \| BscScan] (Aug 13)		<ref name="bscscan-2508">[https://www.bscscan.com/address/0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 Address 0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 \| BscScan] (Aug 13, 2021)</ref>

	[https://cryptotox.com/news/10103-chetyre-defi-proekta-na-binance-smart-chain-sovershili-ekzit-skam-na-54-tysiachi-tokenov-bnb Четыре DeFi-проекта на Binance Smart Chain совершили экзит-скам на 54 тысячи токенов BNB \| Cryptotox] (Aug 13)		<ref name="cryptotox-2509">[https://cryptotox.com/news/10103-chetyre-defi-proekta-na-binance-smart-chain-sovershili-ekzit-skam-na-54-tysiachi-tokenov-bnb Четыре DeFi-проекта на Binance Smart Chain совершили экзит-скам на 54 тысячи токенов BNB \| Cryptotox] (Aug 13, 2021)</ref>

	[https://explorer.bitquery.io/bsc/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) ERC20 Token Analytics \| Binance Smart Chain Mainnet \| Bitquery] (Aug 13)		<ref name="explorer-2510">[https://explorer.bitquery.io/bsc/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) ERC20 Token Analytics \| Binance Smart Chain Mainnet \| Bitquery] (Aug 13, 2021)</ref>

	[https://cryptophco.wordpress.com/2021/01/24/tin-finance-airdrop/ Tin Finance Airdrop (Scam) – Crypto PH Airdrops and Giveaways] (Aug 13)		<ref name="cryptophco-2511">[https://cryptophco.wordpress.com/2021/01/24/tin-finance-airdrop/ Tin Finance Airdrop (Scam) – Crypto PH Airdrops and Giveaways] (Aug 13, 2021)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/tinfinanceexitscam.php}} Tin FinanceTin Finance promoted a large token pre-sale for their smart contract through an airdrop promotion. Once the time was right, the team used a deployer to siphon the liquidity out of the smart contract, making off with $140k worth of funds. It is not known if any funds were recovered. This is a global/international case not involvin..."

2023-01-25T19:39:10Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/tinfinanceexitscam.php}} thumb|Tin FinanceTin Finance promoted a large token pre-sale for their smart contract through an airdrop promotion. Once the time was right, the team used a deployer to siphon the liquidity out of the smart contract, making off with $140k worth of funds. It is not known if any funds were recovered. This is a global/international case not involvin..."

New page

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

[[File:Tinfinance.jpg|thumb|Tin Finance]]Tin Finance promoted a large token pre-sale for their smart contract through an airdrop promotion.

Once the time was right, the team used a deployer to siphon the liquidity out of the smart contract, making off with $140k worth of funds.

It is not known if any funds were recovered.

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

== About Tin Finance ==
"Tin Finance is a next-generation yield farming service that provides trustless vault options to make essential staking, locking for both individual and enterprise closes $100K seed round led by Nano Capital, Asaty Fund and International Group Capital." "Tin Finance promised users a pre-sale of 100,000 USD in return for TIN tokens."

"Tin Finance is a Pancakeswap exchange Fork running in Binance Smart Chain." "TIN includes Trade Binance Smart Chain, Yield Farming, Double symbolic economy, Different prize system, NFT Insurance, Administration, Loaning/Borrowing, Non-inflationary security, [and] Fiat exchange availability."

"Tin Finance is launching a crypto Airdrop campaign to community. Join the Airdrop program and complete the tasks, You will get free 5 TIN Tokens with an estimate value of $5. Step by step to claim TIN Tokes as below." "Click on ‘Statistics’ to check Your TIN Token balance and get referral link. You will get free 5 TIN Tokens ~ $5 after Airdrop campaign ends. Share Your referral link to invite people to the Airdrop campaign, You will earn extra 1 TIN Token ~ $1 per referral."

"Popcornswap, SharkYield, Zap Finance, Tin Finance, Multi Financial - be careful, exit scams." "In a few days, three projects (Zap Finance and Tin Finance, SharkYield) ran away." "[T]wo other De-Fi projects, Zap Finance and Tin Finance, have run off with user funds."

In a "significant rug pull done by Tin Finance [they made] away with about $140,000 worth of liquidity. This project has also gone ghost since the incident, but there Twitter [was] still live [for a brief period before going offline]."

"This rug-pull was structured in a bit of a differ[e]nt fashion, being that of a pre-sale scam." "This project used the Tin Finance contract deployer to siphon liquidity which was then converted to WBNB and bridged off of the BSC. Ultimately the team created a false ethos and promises of a pre-sale, to run off with users money."

"There are reports that the Tin Finance team has deleted the website and possibly rug-pulled. Please exercise caution when interacting with this address." "The BSC team is negotiating refunds to users."

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 - Tin Finance Exit Scam
!Date
!Event
!Description
|-
|January 26th, 2021 12:00:00 AM
|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 ==
Tin Finance was run by an anonymous team, possibly a single person of unknown background. The funds were not stored offline, nor in a multi-signature arrangement.

== References ==
[https://vc.ru/finance/203315-popcornswap-sharkyield-zap-finance-tin-finance-multi-financial-ostorozhno-ekzit-skamy-smi Popcornswap, SharkYield, Zap Finance, Tin Finance, Multi Financial — осторожно] (Jul 9)

[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 17)

[https://bscscan.com/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) Token Tracker | BscScan] (Aug 13)

[https://cryptokiemtien.com/tin-finance-crypto-airdrop-get-free-5-of-tin-tokens/ Tin Finance Crypto Airdrop - Get Free $5 Of TIN Tokens -] (Aug 13)

[https://newairdropalert.blogspot.com/2021/01/tin-finance-airdrop-total-to-earn-per.html TIN FINANCE AIRDROP Total to earn per participant 5 TIN and Per referral = 1 TIN] (Aug 13)

[https://web.archive.org/web/20210126225555/http://tin.finance/ Tin Finance Swap] (Aug 13)

[https://eternia.to/threads/5-tin-finance-airdrop.68838/ $ 5 Tin Finance Airdrop - Nulled and Leak Forums] (Aug 13)

[https://cryptotox.com/tinfinance/ Tin Finance] (Aug 13)

[https://www.beermoneyforum.com/threads/airdrop-tin-finance-is-a-pancakeswap-exchange-fork-running-in-binance-smart-chain.121208/ ☑️NEW - Airdrop Tin Finance is a Pancakeswap exchange Fork running in Binance Smart Chain | BeerMoneyForum.com - We Help Each Other to Make Money Online] (Aug 13)

[https://www.bsc.news/post/liquidity-siphon-rugpulls-on-the-binance-smart-chain What Are Liquidity Siphon Rugpulls on Binance Smart Chain?] (Aug 13)

[https://www.bscscan.com/address/0xde508c7a6d374ecd29e0f45a92472ddc655394e7 Address 0xde508c7a6d374ecd29e0f45a92472ddc655394e7 | BscScan] (Aug 13)

[https://www.bscscan.com/address/0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 Address 0x75b84a45fd046c01e3cd9ac725e991a8d28fe5f7 | BscScan] (Aug 13)

[https://cryptotox.com/news/10103-chetyre-defi-proekta-na-binance-smart-chain-sovershili-ekzit-skam-na-54-tysiachi-tokenov-bnb Четыре DeFi-проекта на Binance Smart Chain совершили экзит-скам на 54 тысячи токенов BNB | Cryptotox] (Aug 13)

[https://explorer.bitquery.io/bsc/token/0xd248537d601f8e062dd36c8e7d26302d51cc653a Tin Finance (TIN) ERC20 Token Analytics | Binance Smart Chain Mainnet | Bitquery] (Aug 13)

[https://cryptophco.wordpress.com/2021/01/24/tin-finance-airdrop/ Tin Finance Airdrop (Scam) – Crypto PH Airdrops and Giveaways] (Aug 13)