Jun 2025 - Stead Token Smart Contract Lacks Proper Access Control - $15k (Global)
The Stead smart contract was launched on the Arbitrum blockchain on February 21st, 2024. The blockchain address for the smart contract is 0xf9ff933f51ba180a474634440a406c95dfb27596.
The Stead smart contract had a vulnerability.
"It seems that the 0x16fb27ce() function in the newly upgraded contract 0xf9ff lacks proper access control, allowing any to drain STEAD tokens from the contract."
Losses are reported by TenArmor at $14.5k USD. The exploit transactions shows a gain of 135,000 STEAD tokens.
The incident and malicious transaction were ultimately reported on by TenArmor.
It does not appear that there has been any recovery.
There is no indication that any funds have been recovered.
It is unclear if any investigation or recovery is ongoing.
Further Analysis
More Cryptocurrency Exchange Hacks/Scams/Frauds
Future Protocol FPC Token Burn Sandwich Attack Drain > > < < PANews Airdrop Twitter/X Account Hacked
Sources/Further Reading
TenArmor - "Our system has detected a suspicious attack involving #STEAD token on #Arbitrum, resulting in an approximately loss of $14.5K." - Twitter/X (Dec 31)
Attack Transaction On Stead Token Smart Contract - Arbiscan (Dec 31)
Exploited Stead Smart Contract Address - Arbiscan (Dec 31)
Creation Of Exploited Stead Smart Contract - Arbiscan (Dec 31)
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