Beosin: Analysis of the Attack Incident on DegenClub_DMC Project Resulting in Losses of Approximately $19,000

ChainCatcher news, according to monitoring by Beosin EagleEye, a security risk monitoring, early warning, and blocking platform under the blockchain security auditing company Beosin, on February 6, 2023, the DegenClub_DMC project suffered a hacker attack. The Beosin security team analyzed that the cause of the attack was an externally callable mintFromStaking function in the project's DMC token contract, which allows anyone to increase the balance of a specified address through this function. The attacker increased the balance of a specified address via the mintFromStaking function and then exchanged the DMC tokens for WBNB through a trading pair to realize profits. The total loss amounted to approximately $19,000, and Beosin Trace has found that the profits have been transferred to Tornado.cash by the attacker.