PEPE

Insider Manipulation

Estimated loss

$15.08M

VERDICT —OUT OF SCOPE

Root cause is social engineering — privileged personnel deceived into authorizing the drain. Contract behaved as written. Defense lives in process controls (multi-party approval, M-of-N signoff windows), not in smart-contract review.

▰ METHOD

SOCIAL ENGINEERING

SOCIAL-ENGINEERING

Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

Forensic narrative

PEPE said on Twitter that 16 trillion pieces of PEPE were sold yesterday because three former members deleted the multi-signature permissions after stealing tokens. However, Jeremy Cahen, founder of the NFT market Not Larva Labs, issued a post saying that the "truth" announced by PEPE was a complete lie, and said that he and the community were used by the PEPE team. On August 26, PEPE tweeted that PEPE's Telegram group is currently locked, the group owner's old Telegram account was hacked, and the group has been taken over by hackers. Attack method (per SlowMist): Insider Manipulation. Reported loss: $ 15,080,000.

Primary source

https://twitter.com/pepecoineth/status/1695267128428114005 ↗

Sourced from

slowmist

Technical record