Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.
A dog-themed memecoin project called SHARPEI abruptly cashed out $3.4 million, tanking the token price by more than 96% in seconds. The project had been promoted by crypto influencers, but hit a snag when a pitch deck for the project leaked. The deck contained multiple lies, including claims to have hired multiple "KOLs" who later denied involvement, and false claims of partnerships with various platforms and projects. As the token price stuttered along with these revelations, insiders apparently decided to quit while they were ahead, and cashed out in a quick and coordinated sale. Attack method (per SlowMist): Rug Pull. Reported loss: $ 3,400,000.
- chain
- —
- protocol
- SHARPEI
- bug_class
- rug
- date_occurred
- 2024-10-23
- loss_usd
- $3,400,000
- source_id
- sm:sharpei::2024-10-23