Techrate
Basics
"A few hours before the attack, we received a direct message from an anonymous source suggesting that StableMagnet would rugpull. There was no scope to whitehack the funds, so all we could do was wait. Now there’s $27 million gone, and more due to be stolen from the wallets of those who have not yet revoked permissions to StableMagnet. Techrate audits are not to be trusted.
The stolen funds were split between multiple addresses and deposited to Binance in order to switch to the Ethereum blockchain, then quickly withdrawn and the centralised USDT exchanged for decentralised DAI. These attackers had planned their escape route.
They told us that the same group is responsible for multiple recent rugpulls, suggesting that Moon Here token, and Wen Moon token were also carried out by the same bad actors. They also told us that “Techrate audited the Github, but not the deployed contract” We know that Techrate was alerted to this rugpull, and that they took no action. A quick glance through the list of projects that they are involved with will give you a good idea of the kind of quality you can expect with a Techrate audited project. We know of at least two major hacks in which the protocol is working to prove that they were attacked by their auditor. Investigations are ongoing."
