backdoor from rogue developers
Days in Operation:
Compounder.Finance project was rug-pulled Tuesday, with some $10.8 million in investor funds stolen due to a hidden backdoor in the project's smart contracts. It was found that these transactions were internal operations by the owner of the Compounder.Finance project, and a large number of tokens were transferred to their account. Compounder Finance had its contracts drained of $750,000 worth of wrapped bitcoin (WBTC), $4.8 million ether, $5 million dai and a small assortment of other tokens, according to an address associated with the exploit. Tthe developers had snuck in a call function that allowed them to withdraw all funds from the project – an action a decentralized finance project should never allow – whenever they deemed the booty large enough.
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