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BSC tokens loss: reasons, what to do, questions and ideas

Binance

Cryptocoins Exchanges / Binance 203 Views

It happened that I'm moderating some small BSC chats and I've been getting numerous reports on this wallet driving away tokens: 0xEFbE8b45e5122A1172f7f991FCE44E2FB3075cCc

Sometimes it's only 1 token, other times it's the whole porfolio loss. I'd like to figure out the reasons why this happens. Obviusly, funds may be stolen if:

  • There is a flaw in some Dapp, or it was made with a malicious intent and user approved unlimited token spend (Approvals checker) or triggered other mechanism allowing access to his funds.
  • The user shared access to his privatekey with some malware living in his PC/Phone
  • The token smart contract may be insecure thus leading to a loss

My concerns & questions:

  1. If some token smart contract can give access to other funds in the wallet? Like, if I buy $MALICIOUS token - it would somehow grant access to all my tokens for a bad contract creator?
  2. Can PanCake and all the token creators possibly ban malicious address somehow, or block transactions coming from it?
  3. Can BSCScan red flag it like ETHerscan does it, have you seen them doing so?
  4. Where can users report such wallets to? I am sure there is not only one bad actor in this field, I hope some organization who could monitor further transactions already exists.

Feel free to add questions and useful infos, so I could expand the topic, or direct me to the right place to learn more. Also, I'd be glad if some1 could backtrace all the incoming transactions to that address I've shared and see if there is something in common, maybe they all share the same token(s). Finding the final money end point would be also good, cause I think it goes to Binance or other Tier 1 exchange, all these hackers are real people who need fiat after all.

submitted by /u/z0diac_me
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