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ID:

stabledoin-finance-1240

Date:

Status:

Incident Count:

October 25, 2022

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

124,179

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Recovered:

-

Rewards:

Ticker:

USD, USDC

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

DogeChain

Protocol

Dexes

Front-end Vulnerabilities

Extended Method:

Rug Pull

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Days in Operation:

10

(0.03 Years)

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Marco of PaladinSec reported a scam with StableDoin Finance running on DogeChain. The project was launched on Oct 15 allowing users to stake tokens and earn rewards. StableDoin Finance swaps stablecoins at efficient exchange rates with low fee; and earn a sustainable and optimal yield on their assets via LP-staking pools. It boasted low swap fee and low slippage.

As it turned out the project was a scam, where the front-end diverts funds depending on amount of transaction in DEX. Any value over $4k is rugged. Social media and website both have gone incognito. Approx. $124k USDC was taken by reported address.

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