VERDICT —UNRATED
Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.
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
SnowdogDAO, an Avalanche-based decentralized reserve memecoin, suffered a severe failure yesterday after only 8 days of operation. Snowdog created its own AMM based on Uniswap V2 to move all SDOG liquidity from DEX Avalanche Trader Joe. However, the redemption failed miserably within seconds of launch, with hundreds of users losing most of their funds. Attack method (per SlowMist): Rug Pull. Reported loss: $ 30,000,000.
Primary source
https://www.mon-livret.fr/le-premier-memecoin-lance-sur-avalanche-se-termine-en-arnaque-de-30-millions-de-dollars.html ↗Sourced from
slowmist
Technical record
- chain
- avalanche
- protocol
- SnowdogDAO
- bug_class
- rug
- date_occurred
- 2021-11-26
- loss_usd
- $30,000,000
- source_id
- sm:snowdogdao::2021-11-26
Related — same bug class· rug