Wall Street Memes Pre-Sale Flash Loan Attack

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Wall Street Memes Logo/Homepages

Wall Street Memes offers a meme token which claims to be the hottest out there. A Flash loan attack was reported by Slowmist on April 7th, based on a transaction on April 4th, 2024. The Wall Street Memes team did not provide any comment on the transaction or suspected attack.

This is a global/international case not involving a specific country.

About Wall Street Memes

"The $WSM token celebrates the little guys, the retail investors. The guys that took on wall street and won.

With a buyback program to support token price, WSMCasino to get your blood pumping, and a staking program to reward diamond hands, the $WSM token is the hottest meme token out there."

"The Wall Street Memes community is the home of the degen. Born out of the GameStop saga, we’ve assembled a community of over 1.1 million diamond hands on social, serving the best memes Wall Street doesn’t want you to see.

Looking to work with Wall Street Memes? We work with selective partners to offer collaborative content and ad placements. To find out more about Wall Street Memes partnerships click here."

"Welcome to the new home of the degen - Wall St Memes Casino is the ultimate destination to spend your well earned gains. With custom Wall St Memes games, sports betting, a live casino, and $WSM token integration, it’s the perfect place to grow your bags!"

"Wall Street Memes (WSM)’s pre-sale contract fell victim to a flash loan attack, resulting in a loss of approximately 2.5M WSM, worth around $18,000."

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.

Key Event Timeline - Wall Street Memes Pre-Sale Flash Loan Attack

Date	Event	Description
August 26th, 2023 1:25:36 PM MDT	Marketing Video	Wall Street Memes video posted on YouTube.
April 4th, 2024 10:25:24 AM MDT	Smart Contract Breach	The blockchain transaction behind the breach.
April 7th, 2024 1:45:00 PM MDT	SlowMist Post	SlowMist posts an announcement including the breach.

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 $18,000,000 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.