Memecoin protocol Based Doge (BOGE), operating on the Base network, recently admitted it was hacked, resulting in the loss of an estimated 91.4 million BOGE tokens. The team revealed the attack exploited a vulnerability similar to the one used against Normie last week, targeting a specific weakness in smart contracts.
The attacker took advantage of a flash loan vulnerability to create more tokens, empty the liquidity pool, and plummet the token price.
The address of the attacker was determined to be 0xbA2b…26Ba0C, and the address of the exploit contract was 0x8c4e4…5d1a42. Blockchain data revealed that the attacker completed over 120 transactions, transferring around 91.4 million BOGE and swapping them for 4.47 Ether, which is approximately $16,926.
The Based Doge team claims that it has restricted access to the supply by taking a snapshot of current holders and is ready to restart the project. They also intend to distribute the entire BOGE token supply to all BOGE holders at zero cost. This team has been provided with 30 ETH in their marketing wallet to further reconstruct and develop the project. Preparations for the potential fair relaunch with exchanges like MEXC are being made at the moment, and people who hold the tokens are urged not to transfer their funds.
Currently, the team continues working on the project to achieve the set goal of a market capitalization between $2.5 million and $3 million upon relaunch.
According to CoinMarketCap stats, BOGE is trading at a price of $0.00003834, with a price drop of 41.32%.
Also Read: BNB Chain Hit by $80K Bitcoin Theft
