An automated detection system revealed the Tron-based JST token seems to have been rugged
The Tron-based JST token appears to have been compromised, according to an automatic detection method developed by PeckShield, a cybersecurity service. PeckShield reported that a fraudster shifted 4,600 BNB worth $1.25 million to Tornado cash mixer, while 2,555 BNB worth roughly $693,000 remains in the hacker’s wallet.
#PeckShieldAlert Seems like $JST rugged again, scammers have transferred ~4,600 $BNB ($1.25M) to Mixer (Tornado Cash) and ~2,555 $BNB ($693k) still sit in its wallet$JST rugpull address: 0x4693f…04b34 pic.twitter.com/ewfSOCAwrq
— PeckShieldAlert (@PeckShieldAlert) October 11, 2022
Tron’s JUST Ecosystem Reportedly Hit with 4,600 BNB Exploit
JUST is a Defi ecosystem built on the TRON blockchain, with its whole range of products centered on the JustStable decentralized stablecoin lending platform.
The JUST ecosystem, which debuted in August 2020 after an initial exchange offering (IEO) on the Poloniex LaunchBase platform earlier that year, has two tokens: USDJ and JUST (JST).
However, the platform’s native governance token (JST) has been circulating since May 2020. PeckShield reported a -65% slippage on the JUST (JST) token in May this year. After more than a month, an address purchased JST for 100 BNB, which eventually increased to 3,000 BNB. By making a large sale and then transferring 800 BNB to Tornado cash, the address dumps JST.
JST was trading at $0.028 with a market value of $253 million at the time of publishing. Just Lend, a TRON-powered money market protocol that allows users to inject liquidity into lending pools and take out low-interest cryptocurrency loans, dominates the market in Tron’s Defi TVL.
According to DefiLlama statistics, the Tron blockchain is the second largest network in terms of total value locked (TVL) in Defi protocols, trailing only Ethereum. Tron’s TVL in Defi is $5.51 billion at the time of writing, which is higher than the TVLs of Binance Smart Chain (BSC) and Avalanche (AVAX).
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