BaseBros Fi, a yield optimization decentralized finance (DeFi) protocol on Base blockchain, disappeared from the internet after stealing its users’ investments through an unaudited smart contract.
On Sept. 13, BaseBros deleted its official website and social media accounts on X and Telegram. Blockchain security firm Chain Audits, who had previously audited some BaseBros smart contracts, found that the DeFi project orchestrated a rug pull via “an unaudited and unverified Vault contract.”
Source:
BaseBrosFi
BaseBros had approximately 2,000 followers on X and over 3,300 members on Telegram right before its disappearance.
Vulnerable smart contract went audited
ChainAudits
claimed
it had audited four of the five smart contracts used in the BaseBros project and added:
The unaudited contract contained a backdoor vulnerability, allowing the company owners to withdraw funds deposited into the “Strategy” contract.
Source:
Chain Audits
BaseBros rug pull had no impact on the Seamless protocol
The rug pull event was initially wrongly assumed to impact the Seamless protocol due to similar contract labeling. According to blockchain investigator Cyvers, the bad actor siphoned $130,000 worth of stolen funds through the crypto mixing service Tornado Cash.
Source:
Cyvers
Seamless conducted an internal investigation and declared the protocol and its investors’ funds safe from any attacks. Chain Audits also confirmed that BaseBro Fi was the only protocol affected that lost funds from multiple pools.
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Base DeFi project vanishes following rug pull incident