TronBank Fake Token Attack - Revision history

Azoundria at 19:02, 1 May 2023

2023-05-01T19:02:06Z

← Older revision		Revision as of 13:02, 1 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/tronbankfaketokenattack.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/tronbankfaketokenattack.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	[[File:Tronbank.jpg\|thumb\|TronBank]]Tron Bank is a smart contract which offers investors interest on tokens deposited. The smart contract hot wallet was vulnerable and a hacker was able to create a transaction involving fake tokens to steal the funds. There doesn't appear to be any mention of a recovery, so it's assumed affected users lost all their funds.		[[File:Tronbank.jpg\|thumb\|TronBank]]Tron Bank is a smart contract which offers investors interest on tokens deposited. The smart contract hot wallet was vulnerable and a hacker was able to create a transaction involving fake tokens to steal the funds. There doesn't appear to be any mention of a recovery, so it's assumed affected users lost all their 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="slowmisthacked-4539" /><ref name="ibtctrade-4574" /><ref name="carigold-4575" /><ref name="bittorrent-4581" /><ref name="coinmarketcap-4582" /><ref name="blockingdotnet-4583" /><ref name="bitcointalk-5000" /><ref name="archive-5001" />
	<ref name="slowmisthacked-4539" /><ref name="ibtctrade-4574" /><ref name="carigold-4575" /><ref name="bittorrent-4581" /><ref name="coinmarketcap-4582" /><ref name="blockingdotnet-4583" /><ref name="bitcointalk-5000" /><ref name="archive-5001" />

	== About TronBank ==		== About TronBank ==
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	!Description		!Description
	\|-		\|-
	\|April 11th, 2019 ~~12:00:00 AM~~		\|April 11th, 2019
	\|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 59:		Line 58:
	\|		\|
	\|}		\|}

			== 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 safest storage for funds is offline multi-signature storage held by at least 3 of 4 known and trained individuals. The remaining hot wallet balance can be insured using a industry-based insurance fund, and would only be approved after review by two separate validation firms, which in the case of a smart contract would include an audit. Any one of these measures would have avoided the loss.
			== 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 safest storage for funds is offline multi-signature storage held by at least 3 of 4 known and trained individuals. The remaining hot wallet balance can be insured using a industry-based insurance fund, and would only be approved after review by two separate validation firms, which in the case of a smart contract would include an audit. Any one of these measures would have avoided the loss.

	== References ==		== References ==
	<references><ref name="slowmisthacked-4539">[https://hacked.slowmist.io/en/?c=Tron SlowMist Hacked - SlowMist Zone] (Nov 5, 2021)</ref>		<references><ref name="slowmisthacked-4539">[https://hacked.slowmist.io/en/?c=Tron SlowMist Hacked - SlowMist Zone] (Nov 6, 2021)</ref>

	<ref name="ibtctrade-4574">[https://www.ibtctrade.com/breaking_news/1796.html?lang=en https://www.ibtctrade.com/breaking_news/1796.html?lang=en] (Dec 18, 2021)</ref>		<ref name="ibtctrade-4574">[https://www.ibtctrade.com/breaking_news/1796.html?lang=en https://www.ibtctrade.com/breaking_news/1796.html?lang=en] (Dec 19, 2021)</ref>

	<ref name="carigold-4575">[https://carigold.com/forum/threads/tronbank-a-financial-game.693920/ Tronbank - A Financial game \| CariGold Forum] (Dec 18, 2021)</ref>		<ref name="carigold-4575">[https://carigold.com/forum/threads/tronbank-a-financial-game.693920/ Tronbank - A Financial game \| CariGold Forum] (Dec 19, 2021)</ref>

	<ref name="bittorrent-4581">[https://www.bittorrent.com/token/btt/ https://www.bittorrent.com/token/btt/] (Dec 18, 2021)</ref>		<ref name="bittorrent-4581">[https://www.bittorrent.com/token/btt/ https://www.bittorrent.com/token/btt/] (Dec 19, 2021)</ref>

	<ref name="coinmarketcap-4582">[https://coinmarketcap.com/currencies/bittorrent/historical-data/ https://coinmarketcap.com/currencies/bittorrent/historical-data/] (Dec 18, 2021)</ref>		<ref name="coinmarketcap-4582">[https://coinmarketcap.com/currencies/bittorrent/historical-data/ https://coinmarketcap.com/currencies/bittorrent/historical-data/] (Dec 19, 2021)</ref>

	<ref name="blockingdotnet-4583">[https://blocking.net/1638/dapp-trend-list-all-vulnerability-wave-fields-on-eos-may-be-reproduced/ DAPP trend list: all vulnerability wave fields on EOS may be reproduced Blockchain Network] (Dec 19, 2021)</ref>		<ref name="blockingdotnet-4583">[https://blocking.net/1638/dapp-trend-list-all-vulnerability-wave-fields-on-eos-may-be-reproduced/ DAPP trend list: all vulnerability wave fields on EOS may be reproduced Blockchain Network] (Dec 19, 2021)</ref>

Azoundria at 08:02, 17 February 2023

2023-02-17T08:02:36Z

← Older revision		Revision as of 02:02, 17 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/tronbankfaketokenattack.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/tronbankfaketokenattack.php}}
			{{Unattributed Citations}}

	[[File:Tronbank.jpg\|thumb\|TronBank]]Tron Bank is a smart contract which offers investors interest on tokens deposited. The smart contract hot wallet was vulnerable and a hacker was able to create a transaction involving fake tokens to steal the funds. There doesn't appear to be any mention of a recovery, so it's assumed affected users lost all their funds.		[[File:Tronbank.jpg\|thumb\|TronBank]]Tron Bank is a smart contract which offers investors interest on tokens deposited. The smart contract hot wallet was vulnerable and a hacker was able to create a transaction involving fake tokens to steal the funds. There doesn't appear to be any mention of a recovery, so it's assumed affected users lost all their 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="slowmisthacked-4539" /><ref name="ibtctrade-4574" /><ref name="carigold-4575" /><ref name="bittorrent-4581" /><ref name="coinmarketcap-4582" /><ref name="blockingdotnet-4583" /><ref name="bitcointalk-5000" /><ref name="archive-5001" />

	== About TronBank ==		== About TronBank ==
Line 29:		Line 31:

	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 51:		Line 52:
	\|-		\|-
	\|April 11th, 2019 12:00:00 AM		\|April 11th, 2019 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.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
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	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost ~~is unknown~~.		The total amount lost has been estimated at $119,000 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?
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	== 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?
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	== References ==		== References ==
	[https://hacked.slowmist.io/en/?c=Tron SlowMist Hacked - SlowMist Zone] (Nov 5)		<references><ref name="slowmisthacked-4539">[https://hacked.slowmist.io/en/?c=Tron SlowMist Hacked - SlowMist Zone] (Nov 5, 2021)</ref>

	[https://www.ibtctrade.com/breaking_news/1796.html?lang=en https://www.ibtctrade.com/breaking_news/1796.html?lang=en] (Dec 18)		<ref name="ibtctrade-4574">[https://www.ibtctrade.com/breaking_news/1796.html?lang=en https://www.ibtctrade.com/breaking_news/1796.html?lang=en] (Dec 18, 2021)</ref>

	[https://carigold.com/forum/threads/tronbank-a-financial-game.693920/ Tronbank - A Financial game \| CariGold Forum] (Dec 18)		<ref name="carigold-4575">[https://carigold.com/forum/threads/tronbank-a-financial-game.693920/ Tronbank - A Financial game \| CariGold Forum] (Dec 18, 2021)</ref>

	[https://www.bittorrent.com/token/btt/ https://www.bittorrent.com/token/btt/] (Dec 18)		<ref name="bittorrent-4581">[https://www.bittorrent.com/token/btt/ https://www.bittorrent.com/token/btt/] (Dec 18, 2021)</ref>

	[https://coinmarketcap.com/currencies/bittorrent/historical-data/ https://coinmarketcap.com/currencies/bittorrent/historical-data/] (Dec 18)		<ref name="coinmarketcap-4582">[https://coinmarketcap.com/currencies/bittorrent/historical-data/ https://coinmarketcap.com/currencies/bittorrent/historical-data/] (Dec 18, 2021)</ref>

	[https://blocking.net/1638/dapp-trend-list-all-vulnerability-wave-fields-on-eos-may-be-reproduced/ DAPP trend list: all vulnerability wave fields on EOS may be reproduced Blockchain Network] (Dec 19)		<ref name="blockingdotnet-4583">[https://blocking.net/1638/dapp-trend-list-all-vulnerability-wave-fields-on-eos-may-be-reproduced/ DAPP trend list: all vulnerability wave fields on EOS may be reproduced Blockchain Network] (Dec 19, 2021)</ref>

	[https://bitcointalk.org/index.php?topic=5265399.0 (SCAM ALERT) TRON BANK] (Dec 30)		<ref name="bitcointalk-5000">[https://bitcointalk.org/index.php?topic=5265399.0 (SCAM ALERT) TRON BANK] (Dec 30, 2021)</ref>

	[https://archive.vn/3uDHe https://archive.vn/3uDHe] (Dec 30)		<ref name="archive-5001">[https://archive.vn/3uDHe https://archive.vn/3uDHe] (Dec 30, 2021)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/tronbankfaketokenattack.php}} TronBankTron Bank is a smart contract which offers investors interest on tokens deposited. The smart contract hot wallet was vulnerable and a hacker was able to create a transaction involving fake tokens to steal the funds. There doesn't appear to be any mention of a recovery, so it's assumed affected users lost all their funds. This is a..."

2023-01-25T03:00:42Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/tronbankfaketokenattack.php}} thumb|TronBankTron Bank is a smart contract which offers investors interest on tokens deposited. The smart contract hot wallet was vulnerable and a hacker was able to create a transaction involving fake tokens to steal the funds. There doesn't appear to be any mention of a recovery, so it's assumed affected users lost all their funds. This is a..."

New page

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

[[File:Tronbank.jpg|thumb|TronBank]]Tron Bank is a smart contract which offers investors interest on tokens deposited. The smart contract hot wallet was vulnerable and a hacker was able to create a transaction involving fake tokens to steal the funds. There doesn't appear to be any mention of a recovery, so it's assumed affected users lost all their funds.

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

== About TronBank ==
"TronBank - A financial game that runs entirely on Tron smart contract, with daily ROI 3.6%~6.6%. It's an open transparent contract that automatically generates revenue every second."

On April 11th, "the Tronbank team’s second game, BTTBank, was attacked by hackers with counterfeit money within 3 hours of the release and stole tens of millions of BTTs (not 180 million BTT)."

"BTT is a TRC-10 utility token based on the blockchain that powers features of the most popular decentralized protocols and applications in the world. DApps powered by BTT include BitTorrent Speed, BitTorrent File System, DLive, and others in the pipeline."

"Tron Dapp TronBank was attacked by Fake token attack at 1 am, about 170 million BTT were stolen in 1 hour (worth about 850,000 yuan). Monitoring showed that the hacker created a fake token BTTx to initiate the "invest" function to the contract, and the contract did not determine whether the sender's token id was consistent with the BTT real token id1002000."

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 - TronBank Fake Token Attack
!Date
!Event
!Description
|-
|April 11th, 2019 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 ==
The safest storage for funds is offline multi-signature storage held by at least 3 of 4 known and trained individuals. The remaining hot wallet balance can be insured using a industry-based insurance fund, and would only be approved after review by two separate validation firms, which in the case of a smart contract would include an audit. Any one of these measures would have avoided the loss.

== References ==
[https://hacked.slowmist.io/en/?c=Tron SlowMist Hacked - SlowMist Zone] (Nov 5)

[https://www.ibtctrade.com/breaking_news/1796.html?lang=en https://www.ibtctrade.com/breaking_news/1796.html?lang=en] (Dec 18)

[https://carigold.com/forum/threads/tronbank-a-financial-game.693920/ Tronbank - A Financial game | CariGold Forum] (Dec 18)

[https://www.bittorrent.com/token/btt/ https://www.bittorrent.com/token/btt/] (Dec 18)

[https://coinmarketcap.com/currencies/bittorrent/historical-data/ https://coinmarketcap.com/currencies/bittorrent/historical-data/] (Dec 18)

[https://blocking.net/1638/dapp-trend-list-all-vulnerability-wave-fields-on-eos-may-be-reproduced/ DAPP trend list: all vulnerability wave fields on EOS may be reproduced Blockchain Network] (Dec 19)

[https://bitcointalk.org/index.php?topic=5265399.0 (SCAM ALERT) TRON BANK] (Dec 30)

[https://archive.vn/3uDHe https://archive.vn/3uDHe] (Dec 30)