Dec 2024 - Slurpycoin Buyback Mechanism Sandwich Arbitrage Exploit - $3k (Global)
SlurpyCoin ($SLURPY) is a unique cryptocurrency that features a self-slurping mechanism, which combines automatic buybacks and burns to reduce supply and potentially increase the coin's price. With each transaction, 3% is redistributed to holders, and 2% is held in the contract until enough $SLURPY is stored to be sold for BNB. After 200 sales, the BNB is used to buy and burn $SLURPY tokens. This innovative approach, called "slurponomics," aims to create a cycle of self-sustaining growth. SlurpyCoin is currently available for trading on PancakeSwap and offers a fun community vibe, including a song contest for an airdrop.
"SlurpyCoin ($SLURPY) uses a never before seen slurponomics system to not only create tasty dips, but slurp them up itself. Here’s how it works: 3% of every transaction is redistributed to token holders. 2% of every transaction is held in the contract until 100k $SLURPY is stored, which it will then sell for BNB. That BNB is then held by the contract, and after it has sold $SLURPY 200 times, the contract then uses all of the stored BNB to buy and burn $SLURPY, effectively slurping its own dip."
This attack is also linked to a previous vulnerability that resulted in a loss of approximately $10,000 in MintRisesPrices (WMRP) tokens on July 2nd.
Amount of loss: $ 3,000
Further Analysis
SlurpyCoin ($SLURPY) is a cryptocurrency with a unique "self-slurping" mechanism, which combines automatic buybacks and burns to reduce supply and potentially increase the coin's price. A portion of each transaction is redistributed to holders, and a portion is held in the contract until enough tokens are stored to be sold for BNB. After 200 sales, the stored BNB is used to buy and burn $SLURPY tokens, creating a cycle of self-sustaining growth. While SlurpyCoin offers a fun, community-driven vibe, it was recently targeted in an attack where the attacker manipulated the price, profiting around $3,000. The project appears to have been abandoned at some point after December 2021.
How Could This Have Been Prevented?
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zkPass ZKP Airdrop Phishing Via Hacked Twitter/X Account > > < < HarryPotterObamaSonic10Inu Liquidity Access Vulnerability
Sources/Further Reading
BSC上Slurpycoin遭闪电贷攻击，攻击者利用回购机制操纵代币价格获利_快讯-odaily (Dec 31)
@CertiKAlert Twitter (Dec 31)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 31)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 31)
@lunaray_co Twitter (Dec 31)
@AltCoinsProf Twitter (Dec 31)
@Dex_Crypto_coin Twitter (Dec 31)
@Miss_Lee911 Twitter (Dec 31)
@CryptoMonger762 Twitter (Dec 31)
@CertiK_CN Twitter (Dec 31)
Slurpycoin (SLURPY) Token Tracker | BscScan
(Dec 31)
SlurpyCoin | Address 0x72c114a1a4abc65be2be3e356eede296dbb8ba4c | BscScan
(Dec 31)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 31)
@JRKoff Twitter (Dec 31)
@snakehunter777 Twitter (Dec 31)
SlurpyCoin (Dec 31)
SlurpyCoin (Dec 31)
@slurpycoin Twitter (Dec 31)
Slurpycoin exploiter | Address 0x132D9bbDBE718365aF6Cc9e43bac109A9A53B138 | BscScan
(Dec 31)
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