Patton Coin Fake Token Rug Pull
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Patton is a meme coin on Ethereum representing Trump's first dog. Despite the official smart contract address being prominently displayed at the top of the website, another coin with the same Patton name and a completely different smart contract address managed to pick up a large amount of liquidity and trading on Uniswap. The smart contract was drained of ~$266k USD worth of liquidity a couple of days later.[1][2][3][4][5][6][7][8]
About Patton Coin
"PATTON Trump's First Dog"
"Has Trump chosen the first dog? Goldendoodle named Patton after the legendary WW2 general has been chosen by the president-elect and his son, says Palm Beach philanthropist. Many people think of him as a sweet animal, but few know that he goes chicken hunting at night."
"legendary WW2 general has been chosen by the president-elect and his son, says Palm Beach philanthropist, creates accumulation plans, uses bots with nodes on solana, has a bloomberg terminal, and knows the value of compound interest given his young age. PATTON is neither a cat nor a dog. He is ready to show his skills to everyone."
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 |
|---|---|---|
| May 11th, 2024 2:17:11 PM MDT | Smart Contract Created | The fake PATTON smart contract is created. |
| May 13th, 2024 3:37:47 AM MDT | Blockchain Transaction | The token is dumped. 123,820,343,872,779.282561216026992042 PATTON are sold for 89.213294666201897938 ETH. |
| May 13th, 2024 9:27:17 PM MDT | SlowMist Look up | SlowMist looks up the pair on DexTools fo rinclusion on their incident list. |
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 $266,000 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
"Patton on the ETH appears to have exit scammed, resulting in a 100% price drop and causing losses exceeding $260,000."
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 (Jun 4, 2024)
- ↑ https://www.dextools.io/app/cn/ether/pair-explorer/0xb889ee5797ecc7c350c840382f77f5758b35b99e (Jun 4, 2024)
- ↑ Ethereum Transaction Hash (Txhash) Details | Etherscan (Jun 4, 2024)
- ↑ Ethereum Transaction Hash (Txhash) Details | Etherscan (Jun 4, 2024)
- ↑ PATTON | Trump's First Dog (Jun 4, 2024)
- ↑ Patton price today, PATTON to USD live price, marketcap and chart | CoinMarketCap (Jun 4, 2024)
- ↑ Patton (PATTON) Token Tracker | Etherscan (Jun 4, 2024)
- ↑ $0.00000588 | Patton (PATTON) Token Tracker | Etherscan (Jun 4, 2024)