Script Network(SCPT) Token Swap

$0.0237

1.53%

Other

Overview of the attack

At around 2pm UTC on the 28th December 2023, one of our core dev computers was attacked, completely compromising their passwords, access to the respective contract and the ability to act with the speed that they did. This is not a random hacker sitting in his bedroom, this was a state level group of hackers, as further identified through our investigation with Binance Security. We are still trying to understand exactly how the compromise happened, but we know it was a level of sophistication that is far beyond the pale of simply clicking a link. That said, we are working with cyber forensics, Binance security and Lossless Protocol, to ensure that a full, thorough investagtion is made. Thus far, Binance security themselves have confirmed it is a state level developer sophisticated attack, that said, we have taken the most aggressive of actions across the team until the investigation is complete.

How we dealt with the situation

We were actually alerted by Binance of the breach and a notification we got from our sec Ops. They helped immensely (and still are doing so) to find the group of attackers. As mentioned above, since it was sophisticated, even with a sec ops team, lossless protocol and Binance security, we are unable to confirm exactly what has happened. Once we can confirm, we will update here.

What we did do however is ensure our treasury is safe, which it is, and ensured that liquidity (as much as we had control off of) was pulled from the exchanges. We then chased exchanges hard to close deposits and withdrawals of wallets holding SCPT (due to the hacker attempting to trade millions of coins) and then, halting trading. This process, due to all 3 exchanges being based in a timezone where the core team was sleeping, meant we had a prolonged period of time with trading continuing, with nothing that we could do to change it.

We have carried out a full internal team audit, alongside further additions to our monitoring not just on chain, but off chain through our servers, web apps and platform.

Relaunch

We will re-launch at a similar price as to what SCPT was at the time of the hack. The tokenomics will remain the same as it was before. We are ready to relaunch, but unfortunately we have to wait for the migration to be carried out by the dev teams on the exchanges. With it being a weekend (no coins or tokens launch / relaunch ever takes place on weekends), then New Year’s Day, this means the relaunch may not be til Tuesday or Wednesday next week. The exact date and time will be confirmed once we have it.

You held SCPT coins on an exchange and didn’t do anything yesterday in terms of trading: you will receive a 1:1 conversion of coins you held, and the price will be in and around what it was at the time of the hack.

You held SCPT coins in cold storage or on a decentralised wallet and didn’t do anything yesterday in terms of trading: you will receive a 1:1 conversion of coins you held, and the price will be in and around what it was at the time of the hack.

You sold SCPT coins before the hack: you will not receive an airdrop

You sold SCPT coins after the hack but held these tokens before the hack: you will receive coins as per prior to the hack

You bought SCPT coins whilst the price was dumping after the hack: this conversion is TBC

You deposited SCPT coins into an exchange after the hack, then sold: you will most likely not receive an airdrop, and will have to open a ticket after the migration is complete

You had your coins on Magna, unclaimed: Nothing will change, Magna will support the migration and all coins will be claimable as per before the hack.

What happens to the old tokens

Will effectively be defunct as of now. DO NOT interact with any dex pool that may open up with the attempt to sell your tokens, you may be exposing yourself and your security. You DO NOT need to swap your tokens for new SCPT tokens next week, it will be automatic

In short relaunch date is expected to be the 2nd or 3rd Jan, everyone's coins are 100% safe til then.

SCPT old contract address: