Security incident · 2021-06-23
StableMagnet
According to the public DefiLlama incident dataset, StableMagnet (BSC) suffered a security incident on 2021-06-23, with about $27.0M reported lost.
| Date | 2021-06-23 |
|---|---|
| Reported loss | $27.0M |
| Chain | BSC |
| Target type | DeFi Protocol |
| Technique class | Rugpull |
| Technique | Backdoor Contract |
| Bridge incident | No |
| Within 2021 | #24 by loss that year, 0.9% 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.