The community-driven memecoin project on BNB Chain bounced back by relaunching its Swap token following the massive exploit on its MasterChef and SmartChef smart contracts.
HamsterCoin Launch V2 Contract
HamsterCoin faced one of BNB Chain’s most significant exploits on its CHEESE Swap Token’s contract, prompting its developers to relaunch its swap token, $CHEESE. The new CHEESE swap token V2 is now live on PancakeSwap.
The incident, which occurred on February 28, saw the hacker exploit the protocol’s CHEESE Swap Token’s MasterChef contract and the Hamster Stake deployer SmartChef contracts, stealing over 1790 BNB worth of $CHEESE and $HAM tokens. In the event’s aftermath, the protocol’s native $HAM token crashed by almost 80%, according to BSC News’ report on March 2. However, the token recovered while the team sought ways to prevent further exploits.
After team investigations, HamsterCoin released a post-mortem through a Medium article on March 15 to explain the attack and unveil its plans to relaunch the CHEESE swap token contract, including securing comprehensive security and audits to prevent further attacks. The protocol later tweeted its progress with launching the new Swap token contract in partnership with Certik on April 27.
“We would like to inform that we finalized cheese contract with cooperation between our developers and #Certik, and we will start redistribution today. Redistribution will be made according to old cheese contract holders and will make adjustment on #Cheese price too,” HamsterCoin mentioned in the tweet.
The protocol confirmed the CHEESE token relaunch on Twitter and called on the Hamster Community to trade on PancakeSwap. https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NlbnNpdGl2ZV9tZWRpYV9pbnRlcnN0aXRpYWxfMTM5NjMiOnsiYnVja2V0IjoiaW50ZXJzdGl0aWFsIiwidmVyc2lvbiI6bnVsbH0sInRmd190d2VldF9yZXN1bHRfbWlncmF0aW9uXzEzOTc5Ijp7ImJ1Y2tldCI6InR3ZWV0X3Jlc3VsdCIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=1523291072683819008&lang=en&origin=https%3A%2F%2Fwww.bsc.news%2Fpost%2Fhamstercoins-v2-contract-runs-ahead-after-exploit&sessionId=15dd32a76e686ee91907e7e3d78ec78846ef9363&theme=light&widgetsVersion=c8fe9736dd6fb%3A1649830956492&width=550px
The protocol already airdropped stolen Hamster tokens to victims of the attack. According to the post-mortem, the CHEESE token contract relaunch renders the attacker’s tokens invalid because they are removed from the $CHEESE V2 token supply. The security and audits will be helpful for HamsterCoin, and the team expects that its ecosystem will never again be susceptible to smart contract exploits in the future.
What is HamsterCoin:
$HAM is the native token of the memecoin project Hamster Finance. The project claims half of its supply was locked and burned upon unlocking at certain periods, while half was supplied for sale on PancakeSwap and has no main owner. The project encourages consistent open communication and professes trus-t, transparency, and community as its pillars of success.
Where to find Hamster Coin:
Source : bsc.news
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