Parcl Fake BSC Token Rug Pull: Difference between revisions
(Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/parclfakebsctokenrugpull.php}} {{Unattributed Sources}} thumb|Parcl Logo/HomepageParcl Labs offers real estate price index tokens for portfolio diversification. A fake PRCL token was traded on the Binance Smart Chain, which allowed the creater to rug pull $172k. There doesn't appear to be much investigation thus far. This is a global/international case not involving a specific...") |
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{{ | {{Case Study Under Construction}}[[File:Parcl.jpg|thumb|Parcl Logo/Homepage]]Parcl Labs offers real estate price index tokens for portfolio diversification. A fake PRCL token was traded on the Binance Smart Chain, which allowed the token's creator to rug pull $172k. There doesn't appear to be much investigation thus far. | ||
[[File:Parcl.jpg|thumb|Parcl Logo/Homepage]]Parcl Labs offers real estate price index tokens for portfolio diversification. A fake PRCL token was traded on the Binance Smart Chain, which allowed the | |||
== About Parcl == | == About Parcl == | ||
| Line 11: | Line 6: | ||
"Driven by Parcl Labs, Parcl price indexes are meticulously crafted from vast real estate data reservoirs, encompassing millions of data points from cities across the globe. As leaders in real estate analytics, Parcl Labs continually refines and recalibrates to ensure each index mirrors real-time, city-specific real estate values down to the median price per square foot. At Parcl, our commitment goes beyond numbers; it's about offering a transparent, authentic, and tradable view of the global urban landscape's evolving pulse." | "Driven by Parcl Labs, Parcl price indexes are meticulously crafted from vast real estate data reservoirs, encompassing millions of data points from cities across the globe. As leaders in real estate analytics, Parcl Labs continually refines and recalibrates to ensure each index mirrors real-time, city-specific real estate values down to the median price per square foot. At Parcl, our commitment goes beyond numbers; it's about offering a transparent, authentic, and tradable view of the global urban landscape's evolving pulse." | ||
" | CoinMarketCap:<ref name="coinmarketcap-13368" /> | ||
== The Reality == | == The Reality == | ||
The token claiming to be Parcl was not associated with the Parcl project, and was instead a rug pull. | |||
<ref name="dextools-13364" /> | |||
== What Happened == | == 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. | 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. | ||
"Fake PRCL on the BNB Chain appears to have exit scammed, resulting in a 100% price drop and causing losses exceeding $100,000." | |||
{| class="wikitable" | {| class="wikitable" | ||
|+Key Event Timeline - Parcl Fake BSC Token Rug Pull | |+Key Event Timeline - Parcl Fake BSC Token Rug Pull | ||
| Line 67: | Line 33: | ||
|April 23rd, 2024 8:45:00 AM MDT | |April 23rd, 2024 8:45:00 AM MDT | ||
|Inclusion In Tweet | |Inclusion In Tweet | ||
|The incident is included in a tweet by Web3 research firm Salus. | |The incident is included in a tweet by Web3 research firm Salus<ref name="salussectwitter-13365" />. | ||
|- | |||
|April 25th, 2024 11:25:11 AM MDT | |||
|SlowMist Analysis | |||
|Blockchain security firm Slowmist analyzes the rug pull token on DexTools<ref name="slowmisthackedarchive-13363" />. | |||
|} | |} | ||
== Technical Details == | == 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? | 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? | ||
"Fake PRCL on the BNB Chain appears to have exit scammed, resulting in a 100% price drop and causing losses exceeding $100,000." | |||
<ref name="dextools-13364" /><ref name="bscscan-13366" /><ref name="bscscan-13367" /><ref>[https://bscscan.com/tx/0xe79070e1954d7b3b108a9319975aab31dc5863f367636d7aae501c3b7fb0ba74 Swap 2,000,000,029,277,270.045681590223598536 Fake Parcl Tokens For 172,350.507962009446068987 BSC-USD - BscScan] (Accessed Mar 13, 2024)</ref> | |||
"Apr 15 20:06:40 | |||
sell | |||
$0.0₁₀8617 | |||
$172,350.50 | |||
0.0₁₂1573 | |||
2,000,000,029,277,270" | |||
== Total Amount Lost == | == Total Amount Lost == | ||
Blockchain research firm SlowMist placed the amount lost at $100k<ref name="slowmisthackedarchive-13363" />. | |||
The total amount lost has been estimated at $172,000 USD. | The total amount lost has been estimated at $172,000 USD. | ||
<ref name="coinmarketcap-13368" /> | |||
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 83: | Line 68: | ||
== Ultimate Outcome == | == Ultimate Outcome == | ||
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done? | What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done? | ||
The incident was included in a weekly summary by Web3 firm Salus<ref name="salussectwitter-13365" />.<blockquote>"1. Approximately $800k was lost due to rugpulls on the BNB Chain. These included fake tokens of PRCL, VDZ, and more."</blockquote>The incident was also covered by SlowMist<ref name="slowmisthackedarchive-13363" />. | |||
== Total Amount Recovered == | == Total Amount Recovered == | ||
| Line 107: | Line 94: | ||
== References == | == References == | ||
<references><ref name="slowmisthackedarchive-13363">[https://web.archive.org/web/20240424204302/https://hacked.slowmist.io/ SlowMist Hacked - SlowMist Zone] (Apr 24, 2024)</ref> | <references> | ||
<ref name="slowmisthackedarchive-13363">[https://web.archive.org/web/20240424204302/https://hacked.slowmist.io/ SlowMist Hacked - SlowMist Zone Archive April 24th, 2024 2:43:02 PM MDT] (Apr 24, 2024)</ref> | |||
<ref name="dextools-13364">[https://www.dextools.io/app/en/bnb/pair-explorer/0x2184114c6678f558292bc3d8ae37e422bb188e13 | <ref name="dextools-13364">[https://www.dextools.io/app/en/bnb/pair-explorer/0x2184114c6678f558292bc3d8ae37e422bb188e13 Fake Parcl Token Swap - DexTools] (Apr 25, 2024)</ref> | ||
<ref name="salussectwitter-13365">[https://twitter.com/salus_sec/status/1782782835209683021 Salus - "Approximately $800k was lost due to rugpulls on the BNB Chain. These included fake tokens of PRCL, VDZ, and more." - Twitter] (Apr 25, 2024)</ref> | |||
<ref name="salussectwitter-13365">[https://twitter.com/salus_sec/status/1782782835209683021 | |||
<ref name="bscscan-13366">[https://bscscan.com/address/0x8db24fed8461cd656089ea3587bc340884fabad1 Token | Address 0x8db24fed8461cd656089ea3587bc340884fabad1 | BscScan] (Apr 25, 2024)</ref> | <ref name="bscscan-13366">[https://bscscan.com/address/0x8db24fed8461cd656089ea3587bc340884fabad1 Token | Address 0x8db24fed8461cd656089ea3587bc340884fabad1 | BscScan] (Apr 25, 2024)</ref> | ||
<ref name="bscscan-13367">[https://bscscan.com/tx/0x73c78cd3ac01f635a384eaf86040c9e524ad89a41117b920c02ba6ec31fd8391 Initial Minting Of Fake Parcl Tokens - BscScan] (Apr 25, 2024)</ref> | |||
<ref name="bscscan-13367">[https://bscscan.com/tx/0x73c78cd3ac01f635a384eaf86040c9e524ad89a41117b920c02ba6ec31fd8391 | <ref name="coinmarketcap-13368">[https://coinmarketcap.com/currencies/parcl/ Historic Parcl Prices - CoinMarketCap] (Apr 25, 2024)</ref> | ||
</references> | |||
<ref name="coinmarketcap-13368">[https://coinmarketcap.com/currencies/parcl/ Parcl | |||
Latest revision as of 12:48, 13 May 2024
Notice: This page is a new case study and some aspects have not been fully researched. Some sections may be incomplete or reflect inaccuracies present in initial sources. Please check the References at the bottom for further information and perform your own additional assessment. Please feel free to contribute by adding any missing information or sources you come across. If you are new here, please read General Tutorial on Wikis or Anatomy of a Case Study for help getting started.
Parcl Labs offers real estate price index tokens for portfolio diversification. A fake PRCL token was traded on the Binance Smart Chain, which allowed the token's creator to rug pull $172k. There doesn't appear to be much investigation thus far.
About Parcl
"Speculate on Rising & Falling Real Estate Markets"
"Driven by Parcl Labs, Parcl price indexes are meticulously crafted from vast real estate data reservoirs, encompassing millions of data points from cities across the globe. As leaders in real estate analytics, Parcl Labs continually refines and recalibrates to ensure each index mirrors real-time, city-specific real estate values down to the median price per square foot. At Parcl, our commitment goes beyond numbers; it's about offering a transparent, authentic, and tradable view of the global urban landscape's evolving pulse."
CoinMarketCap:[1]
The Reality
The token claiming to be Parcl was not associated with the Parcl project, and was instead a rug pull.
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.
"Fake PRCL on the BNB Chain appears to have exit scammed, resulting in a 100% price drop and causing losses exceeding $100,000."
| Date | Event | Description |
|---|---|---|
| April 15th, 2024 7:34:53 AM MDT | Token Contract Created | The smart contract for the fake PRCL token is created. |
| April 15th, 2024 8:06:40 PM MDT | Rug Pull Transaction | The time of the rug pull trade on the fake token. |
| April 23rd, 2024 8:45:00 AM MDT | Inclusion In Tweet | The incident is included in a tweet by Web3 research firm Salus[3]. |
| April 25th, 2024 11:25:11 AM MDT | SlowMist Analysis | Blockchain security firm Slowmist analyzes the rug pull token on DexTools[4]. |
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?
"Fake PRCL on the BNB Chain appears to have exit scammed, resulting in a 100% price drop and causing losses exceeding $100,000."
"Apr 15 20:06:40 sell $0.0₁₀8617 $172,350.50 0.0₁₂1573 2,000,000,029,277,270"
Total Amount Lost
Blockchain research firm SlowMist placed the amount lost at $100k[4].
The total amount lost has been estimated at $172,000 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?
The incident was included in a weekly summary by Web3 firm Salus[3].
"1. Approximately $800k was lost due to rugpulls on the BNB Chain. These included fake tokens of PRCL, VDZ, and more."
The incident was also covered by SlowMist[4].
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
No specific policies for individual prevention have yet been identified in this case.
For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.
Platform Prevention Policies
Policies for platforms to take to prevent this situation have not yet been selected in this case.
For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.
Regulatory Prevention Policies
No specific regulatory policies have yet been identified in this case.
For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.
References
- ↑ 1.0 1.1 Historic Parcl Prices - CoinMarketCap (Apr 25, 2024)
- ↑ 2.0 2.1 Fake Parcl Token Swap - DexTools (Apr 25, 2024)
- ↑ 3.0 3.1 Salus - "Approximately $800k was lost due to rugpulls on the BNB Chain. These included fake tokens of PRCL, VDZ, and more." - Twitter (Apr 25, 2024)
- ↑ 4.0 4.1 4.2 SlowMist Hacked - SlowMist Zone Archive April 24th, 2024 2:43:02 PM MDT (Apr 24, 2024)
- ↑ Token | Address 0x8db24fed8461cd656089ea3587bc340884fabad1 | BscScan (Apr 25, 2024)
- ↑ Initial Minting Of Fake Parcl Tokens - BscScan (Apr 25, 2024)
- ↑ Swap 2,000,000,029,277,270.045681590223598536 Fake Parcl Tokens For 172,350.507962009446068987 BSC-USD - BscScan (Accessed Mar 13, 2024)