Parcl Fake BSC Token Rug Pull
Notice: This page is a freshly imported case study from the original repository. The original content was in a different format, and may not have relevant information for all sections. Please help restructure the content by moving information from the 'About' section to other sections, and add any missing information or sources you can find. If you are new here, please read General Tutorial on Wikis or Anatomy of a Case Study for help getting started.
Notice: This page contains sources which are not attributed to any text. The unattributed sources follow the initial description. Please assist by visiting each source, reviewing the content, and placing that reference next to any text it can be used to support. Feel free to add any information that you come across which isn't present already. Sources which don't contain any relevant information can be removed. Broken links can be replaced with versions from the Internet Archive. See General Tutorial on Wikis, Anatomy of a Case Study, and/or Citing Your Sources Guide for additional information. Thanks for your help!
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 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 country.[1][2][3][4][5][6]
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."
"Fake PRCL on the BNB Chain appears to have exit scammed, resulting in a 100% price drop and causing losses exceeding $100,000."
"1. Approximately $800k was lost due to rugpulls on the BNB Chain. These included fake tokens of PRCL, VDZ, and more."
"Apr 15 20:06:40 sell $0.0₁₀8617 $172,350.50 0.0₁₂1573 2,000,000,029,277,270"
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 |
|---|---|---|
| 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. |
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
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?
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
- ↑ SlowMist Hacked - SlowMist Zone (Apr 24, 2024)
- ↑ https://www.dextools.io/app/en/bnb/pair-explorer/0x2184114c6678f558292bc3d8ae37e422bb188e13?t=1714065911632 (Apr 25, 2024)
- ↑ @salus_sec Twitter (Apr 25, 2024)
- ↑ Token | Address 0x8db24fed8461cd656089ea3587bc340884fabad1 | BscScan (Apr 25, 2024)
- ↑ BNB Smart Chain Transaction Hash (Txhash) Details | BscScan (Apr 25, 2024)
- ↑ Parcl price today, PRCL to USD live price, marketcap and chart | CoinMarketCap (Apr 25, 2024)