^The TokenPocket Incident
1 October 2022
An incident occured today where at around 9pm UTC, there was a sudden flash crash in the price of $SHIT which alarmed the community.
Immediately the shitty sleuths went to work and traced the transactions on chain to gather more information.
It seemed that a wallet sold close to 1.5 Trillion of $SHIT on Uniswap and caused the flash crash. But upon further digging, more nefarious clues were discovered. It seemed that the wallet that sold the tokens looked as if it drained $SHIT from a multitude of holders.
Not only that, it also seemed that the wallet drained $SHIB holders wallets and subsequently dumped them all on Uniswap as well. 425 Ethereum was later moved out from this wallet, which are probably the suspected hacked funds.
From the initial suspicion that this could be due to phishing scams or wallet approvals to malicious NFT/Whitelist contracts, many were left wondering what happened as the scale was too large due to the number of unique wallets involved from both $SHIT & $SHIB holders.
The root cause was revealed slightly an hour later by Transit Swap, a cross-chain swap aggregator powered by TokenPocket.
News outlets have also released their articles on the incident.
In response to the incident, and also in an unprecedented move, Shit Devs released the following tweet.
At the time of this writing, as far as the author knows, only ShitLabs has offered to cover the losses experienced by it's supporters. The incident was too widespread and beyond the reasonable control of a DeFi user.
In the aftermath of the exploit, Transit Finance has released positive information on the return of hacked funds.
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