SharkYield Exit Scam: Difference between revisions
(Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/sharkyieldexitscam.php}} thumb|SharkYieldSharkYield was another yield farming platform which ended up disappearing after using the smart contract to remove 6,000 BNB. Investors did not get any recovery. This is a global/international case not involving a specific country. == About SharkYield == "SharkYield is a new Yield Farming & Vault project on Binance Smart Chain." On...") |
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{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/sharkyieldexitscam.php}} | {{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/sharkyieldexitscam.php}} | ||
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[[File:Sharkyield.jpg|thumb|SharkYield]]SharkYield was another yield farming platform which ended up disappearing after using the smart contract to remove 6,000 BNB. Investors did not get any recovery. | [[File:Sharkyield.jpg|thumb|SharkYield]]SharkYield was another yield farming platform which ended up disappearing after using the smart contract to remove 6,000 BNB. Investors did not get any recovery. | ||
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="coincost-2486" /><ref name="cmc-2487" /><ref name="sharkyieldtwitter-2488" /><ref name="sharkyieldarchive-2489" /><ref name="bscscan-2490" /><ref name="bscscan-2491" /><ref name="nomics-2492" /><ref name="slowmisthacked-678" /><ref name="investingdotcom-2493" /> | |||
== About SharkYield == | == About SharkYield == | ||
| Line 27: | Line 29: | ||
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. | ||
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|- | |- | ||
|January 31st, 2021 12:00:00 AM | |January 31st, 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. | ||
|- | |- | ||
| | | | ||
| Line 62: | Line 59: | ||
== Total Amount Lost == | == Total Amount Lost == | ||
The total amount lost | The total amount lost has been estimated at $269,000 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 73: | Line 70: | ||
== Total Amount Recovered == | == 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? | What funds were recovered? What funds were reimbursed for those affected users? | ||
| Line 84: | Line 81: | ||
== 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://coincost.net/en/currency/sharkyield SharkYield SHARK price chart online. SHARK market cap, volume and other live and historical cryptocurrency market data. SharkYield forecast for 2021 | COINCOST] (Aug 12) | <ref name="coincost-2486">[https://coincost.net/en/currency/sharkyield SharkYield SHARK price chart online. SHARK market cap, volume and other live and historical cryptocurrency market data. SharkYield forecast for 2021 | COINCOST] (Aug 12, 2021)</ref> | ||
[https://cmc.io/coins/sharkyield SharkYield SHARK: Price, News, Events, Charts, Exchanges] (Aug 13) | <ref name="cmc-2487">[https://cmc.io/coins/sharkyield SharkYield SHARK: Price, News, Events, Charts, Exchanges] (Aug 13, 2021)</ref> | ||
[https://twitter.com/sharkyield @sharkyield Twitter] (Aug 13) | <ref name="sharkyieldtwitter-2488">[https://twitter.com/sharkyield @sharkyield Twitter] (Aug 13, 2021)</ref> | ||
[https://web.archive.org/web/20210130093305/https://sharkyield.com/ SharkYield] (Aug 13) | <ref name="sharkyieldarchive-2489">[https://web.archive.org/web/20210130093305/https://sharkyield.com/ SharkYield] (Aug 13, 2021)</ref> | ||
[https://bscscan.com/address/0x8a8350f957e00692388c033467ed204d624ee0b4 Contract Address 0x8a8350f957e00692388c033467ed204d624ee0b4 | BscScan] (Aug 13) | <ref name="bscscan-2490">[https://bscscan.com/address/0x8a8350f957e00692388c033467ed204d624ee0b4 Contract Address 0x8a8350f957e00692388c033467ed204d624ee0b4 | BscScan] (Aug 13, 2021)</ref> | ||
[https://bscscan.com/address/0xa0f5636da9a0bcf95fee99a1dbad28ec6301dabe Contract Address 0xa0f5636da9a0bcf95fee99a1dbad28ec6301dabe | BscScan] (Aug 13) | <ref name="bscscan-2491">[https://bscscan.com/address/0xa0f5636da9a0bcf95fee99a1dbad28ec6301dabe Contract Address 0xa0f5636da9a0bcf95fee99a1dbad28ec6301dabe | BscScan] (Aug 13, 2021)</ref> | ||
[https://nomics.com/assets/shark2-sharkyield $SHARK - SharkYield Price, Charts, All-Time High, Volume & Markets - In USD, EUR, CNY etc. | Nomics] (Aug 13) | <ref name="nomics-2492">[https://nomics.com/assets/shark2-sharkyield $SHARK - SharkYield Price, Charts, All-Time High, Volume & Markets - In USD, EUR, CNY etc. | Nomics] (Aug 13, 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://ca.investing.com/crypto/binance-coin/bnb-usd-historical-data BNB USD Binance Historical Data - Investing.com Canada] (Aug 13) | <ref name="investingdotcom-2493">[https://ca.investing.com/crypto/binance-coin/bnb-usd-historical-data BNB USD Binance Historical Data - Investing.com Canada] (Aug 13, 2021)</ref></references> | ||
Revision as of 11:51, 17 February 2023
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SharkYield was another yield farming platform which ended up disappearing after using the smart contract to remove 6,000 BNB. Investors did not get any recovery.
This is a global/international case not involving a specific country. [1][2][3][4][5][6][7][8][9][10]
About SharkYield
"SharkYield is a new Yield Farming & Vault project on Binance Smart Chain." On the "SharkYield Farm on Binance Smart Chain", you can "STAKE PANCAKESWAP LP TOKENS" and "EARN FRESH YIELD 24/7."
The token reached "[a]ll Time High [on] 30 Jan, 2021." "SharkYield had an all-time high of $0.946771."
"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. The current SharkYield ran away is suspected to have taken away 6000 BNB."
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.
| Date | Event | Description |
|---|---|---|
| January 31st, 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 has been estimated at $269,000 USD.
How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
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
SharkYield was run by an anonymous individual, and likely a single person of unknown background. The funds were not stored offline, nor in a multi-signature arrangement.
References
- ↑ Popcornswap, SharkYield, Zap Finance, Tin Finance, Multi Financial — осторожно (Jul 9, 2021)
- ↑ SharkYield SHARK price chart online. SHARK market cap, volume and other live and historical cryptocurrency market data. SharkYield forecast for 2021 | COINCOST (Aug 12, 2021)
- ↑ SharkYield SHARK: Price, News, Events, Charts, Exchanges (Aug 13, 2021)
- ↑ @sharkyield Twitter (Aug 13, 2021)
- ↑ SharkYield (Aug 13, 2021)
- ↑ Contract Address 0x8a8350f957e00692388c033467ed204d624ee0b4 | BscScan (Aug 13, 2021)
- ↑ Contract Address 0xa0f5636da9a0bcf95fee99a1dbad28ec6301dabe | BscScan (Aug 13, 2021)
- ↑ $SHARK - SharkYield Price, Charts, All-Time High, Volume & Markets - In USD, EUR, CNY etc. | Nomics (Aug 13, 2021)
- ↑ SlowMist Hacked - SlowMist Zone (May 17, 2021)
- ↑ BNB USD Binance Historical Data - Investing.com Canada (Aug 13, 2021)