Mars Token Launch Airdrop Exploit
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The Mars Token protocol launched on April 15th, and quickly faced a market attack. The exact amount taken by the exploiter is still being calculated, and the team has asked the public to have patience.
This is a global/international case not involving a specific country.[1][2][3][4]
About Mars Token
"Mars Token will be officially launched at 13:14 (UTC+8) on April 16 and will be available for trading on Pancakeswap."
"MARS has triggered a circuit breaker mechanism due to a large number of token purchases by a large number of people. The data is still being checked. Please wait patiently for the notification of opening trading. The funds in the pool are currently safe."
"MARS has experienced abnormal fluctuations. After investigation, it was found that it was caused by some communities collectively running away from the market, not technical loopholes or malicious technical behavior. We will release the next market plan as soon as possible."
"After communication between the DAO community and the technical team, it was decided to give players who held MARS tokens before 18:30 on April 23 a snapshot of new tokens in the air to compensate for some of their losses."
"The targets of this snapshot airdrop are users who hold MARS tokens before 18:30 on April 23. Users who buy or mint after 18:30 will not be able to receive the airdrop."
"The snapshot airdrop work has not been completed yet. It is necessary to download all transaction data on the chain and roll back to read qualified users before the airdrop can be carried out. The workload is huge and it will take time. Please wait patiently."
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 6:17:00 AM MDT | Launch Tweet | A tweet is posted about the token launch. |
| April 15th, 2024 11:14:00 PM MDT | Promised Launch Date | The official launch date promised. |
| April 16th, 2024 2:40:00 AM MDT | Tweet Posted | The Mars DeFi project notifies that they are checking over the data. |
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 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
The total amount recovered is unknown.
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)
- ↑ @Mars_DeFi412 Twitter (Apr 25, 2024)
- ↑ @Mars_DeFi412 Twitter (Apr 25, 2024)
- ↑ @Mars_DeFi412 Twitter (Apr 25, 2024)