Linking The World (LW) Transfer Logic Issue

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Generic Binance Security Image

Linking The World (LW) is a smart contract on the Binance Smart Chain. The contract was launched on July 7th, and shortly thereafter a breach enabled all of the liquidity to be taken from the smart contract. The incident was reported by SlowMist, ExVul, and ChainAegis. It's unclear who is behind the smart contract. Another contract with the same name was launched on July 11th, and it's unclear if the two contracts are related or not.[1][2][3][4][5][6][7][8][9]

About Linking The World (LW)

Linking The World (LW) is a smart contract on the Binance Smart Chain. The contract was launched on July 7th. It's unclear who is behind the smart contract or how it was promoted.

The Reality

The contract has been considered to be a RugPull or HoneyPot.

"This Token Contract is a SCAM The Warden system based on data from 1.000.000+ SmartContract, this contract has 95% to be a RugPull or HoneyPot!"

What Happened

"The $LW contract on #BNBChain was attacked, lost ～$70K."

Key Event Timeline - Linking The World (LW) Transfer Logic Issue
Date Event Description
July 7th, 2024 12:33:35 AM MDT Smart Contract Created The Linking The World smart contract is originally created.
July 8th, 2024 1:33:32 AM MDT Blockchain Transaction The blockchain transaction appears to do a series of transfers and accumulate a large quantity of Linking the World tokens.
July 8th, 2024 1:44:00 AM MDT SlowMist Suspicion Tweet SlowMist reports having detected potentially suspicious activity in the Linking The World smart contract.
July 8th, 2024 7:24:00 AM MDT ExVul Transaction Report ExVul reports on the transaction. According to their analysis, there is a problem found with the transfer logic.
July 8th, 2024 11:11:00 PM MDT ChainAegis Report ChainAegis shares a tweet with additional details about the exploit.

Technical Details

"detected an attack on $LW on BNB Smart Chain, with a potential loss of $7,251 From the transaction point of view, attacker transfer multi-times $LW token , seems there is problem in transfer logic."

Total Amount Lost

"losing approximately $80,000." - SlowMist

"lost ～$70K." - ChainAegis

"a potential loss of $7,251 From the transaction point of view" - ExVul

The total amount lost has been estimated at $80,000 USD.

Immediate Reactions

"This Token Contract is a SCAM The Warden system based on data from 1.000.000+ SmartContract, this contract has 95% to be a RugPull or HoneyPot!"

"According to monitoring by the SlowMist security team, Linking The World (LW) was attacked on BNBChain due to a contract vulnerability, losing approximately $80,000."

"The $LW contract on #BNBChain was attacked, lost ～$70K."

"detected an attack on $LW on BNB Smart Chain, with a potential loss of $7,251 From the transaction point of view, attacker transfer multi-times $LW token , seems there is problem in transfer logic."

Ultimate Outcome

Potential relaunch of token: https://top100token.com/address/0xe1573d84ad11216a63820711ac644ab0c2838a4b

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. ↑ SlowMist Hacked - SlowMist Zone (Accessed Jul 11, 2024)
  2. ↑ @SlowMist_Team Twitter (Accessed Jul 11, 2024)
  3. ↑ 0x96a955304fed48a8fb | Phalcon Explorer (Accessed Jul 11, 2024)
  4. ↑ BNB Smart Chain Transaction Hash (Txhash) Details | BscScan (Accessed Jul 11, 2024)
  5. ↑ @ChainAegis Twitter (Accessed Jul 11, 2024)
  6. ↑ @EXVULSEC Twitter (Accessed Jul 11, 2024)
  7. ↑ Linking The World (LW) contract is 0xabc6e5a63689b8542dbdc4b4f39a7e00d4ac30c8 on BSC | Top100Token (Accessed Jul 11, 2024)
  8. ↑ BNB Smart Chain Transaction Hash (Txhash) Details | BscScan (Accessed Jul 11, 2024)
  9. ↑ Linking The World Defi (LWDEFI) contract is 0xe1573d84ad11216a63820711ac644ab0c2838a4b on BSC | Top100Token (Accessed Jul 11, 2024)
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