Sweat Foundation

Contract Vulnerability

Estimated loss

$3.50M

VERDICT —OUT OF SCOPE

Root cause is phishing — victims signed malicious transactions or approvals off-protocol. Contract logic was not the failure surface; user-side wallet hygiene was. Pre-deployment audit cannot catch this class.

▰ METHOD

PHISHING

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

Sweat Foundation was exploited. An attacker drained approximately 13.71 billion SWEAT tokens (about 65% of total supply) from multiple foundation-controlled accounts within roughly 30 seconds, resulting in a loss of about $3.5 million. The attacker exploited a vulnerability in the SWEAT token contract using a custom drainer contract, then attempted to liquidate and bridge the funds via Ref Finance and Wormhole. The team quickly paused the contract, coordinated freezes with MEXC, and restored all external user balances. Attack method (per SlowMist): Contract Vulnerability. Reported loss: $ 3,500,000.

Primary source

https://x.com/SweatEconomy/status/2049588862352060474 ↗

Sourced from

slowmist

Technical record