ChainGPT

Quick Summary

On the 12th of April ChainGPT on the BSC chain was rugged for approx 82k  USD.




Details of the Exploit

The team responsible for managing liquidity in the ChainGPT protocol executed a liquidity removal scam, causing the project to
suffer significant losses. The contract deployer removed a significant amount of liquidity pool (LP) and sold off the token,
leading to a sharp drop of around 90% in its initial price.




Block Data Reference

Scammer:

https://bscscan.com/address/0xd96186062e7abc87bba4563e7e1ab2adda1f1918

Liquidity removal:

https://bscscan.com/tx/0x12c1a6ccd88357780530a07e3d227eea9f83bb34937699ce33d955835a07c005

Quick Summary

On March 18, 2023, the team behind the CGPT Token token executed a rug pull, resulting in a loss of funds worth $43.4K USD.




Details of the Exploit

The attack on the CGPT Token token involved the token contract deployer manipulating the liquidity pool by removing liquidity from
the pair contract and selling a large quantity of tokens on the market. This resulted in a rapid drop in the token's price by
approximately 90%. The deployer took advantage of their ability to manipulate the liquidity pool and market to execute a rug pull,
effectively stealing funds from investors. The exploit highlights the importance of careful token contract design and the need for
investors to perform due diligence before investing in new projects.




Block Data Reference

Deployer:

https://bscscan.com/address/0xd96186062e7abc87bba4563e7e1ab2adda1f1918

Example TX of removing liquidity:

https://bscscan.com/tx/0x32730a68a958b49ebd9c7df3e6f696467d17590c8613e756b62154e30f6e1e18