Security incident · 2021-03-04
Meerkat Finance
According to the public DefiLlama incident dataset, Meerkat Finance (BSC) suffered a security incident on 2021-03-04, with about $31.0M reported lost.
| Date | 2021-03-04 |
|---|---|
| Reported loss | $31.0M |
| Chain | BSC |
| Target type | DeFi Protocol |
| Technique class | Rugpull |
| Technique | Admin Drain |
| Bridge incident | No |
| Within 2021 | #21 by loss that year, 1.1% of all reported losses that year |
How this kind of attack works
The team or whoever held control took the funds themselves, for example by pulling liquidity or minting and dumping tokens.
Would a pre-payment check have helped
Rugpull contracts are usually new, with no history and no audit — visible warning signals before paying, used as signals only, never as proof.