β οΈ incident report:
a back office script of ours accidentally caused a 70 eth sell. this was a mistake and is being reversed immediately with corresponding market buys.
what is this contract?
a common problem with tax tokens is that they accumulate a large sum of taxes that then dump on the market. because taxes are central to our brown hole game, we wanted to minimize this effect as much as possible to build a sustainable tax token that minimizes the effect of tax dumping.
to solve this, we created a script with openzeppelin defender actions to check often if there is enough
$plug to swap for eth, such that the value of the swap doesn't get totally eaten by gas. checking this every few minutes is meant to ensure the we do lots of small swaps instead of big ones like the one that just happened.
during our launch sequence, we placed a few anti-bot measures like a transfer restriction and then a short period of high transfer taxes (80%), which were all lifted when we announced our launch. the problem is that bots bought anyway, generating way more taxes than expected. this is a good thing for the utility of the token as these funds are meant to sweet honeycomb nfts to distribute to holders.
the problem is that while these measures were active, they also prevented our cron from running, so once taxes were set to normal, there was a large amount to sellβexactly what we tried to prevent.
all the funds collected were fair play, and all funds are safe, distributed through a few different ops wallets. we have already done a market buy with the first and largest ops wallet, returning more than half of this to the market. we are following up over the next few minutes with the rest. we will restart the cron process slowly, with new limits and protections added.
importantly, there is no vulnerability to the token contract and there should be no further impact.