Casper DeFi Post Mortem After Casper Token Hack

What Happened:

Casper DeFi
3 min readAug 4, 2021

We never wanted to ever make this post, but sadly we have to. On Aug-04–2021 07:47:57 AM +UTC our Solidity Dev named MikeEther, minted 200,000 Casper Tokens. He then proceeded to mint another 200,000,000 Casper Token to sell on SpiritSwap. This caused the price of Casper to dump more than 99%, making it effectively worthless.

How Did This Happen:

Mike was able to mint Casper tokens by adding a backdoor in our contract. He transferred ownership to our Company Wallet, but also left code which allowed him to re take control and mint new tokens.

How Much Did He Take:

Mike was able to steal $172,411.75 worth of Casper Tokens. He sold the Casper tokens to WFTM & then proceeded to buy BNB with most of the stolen WFTM. He then bridged the BNB to BSC. Total BNB transferred was 516.559241667 BNB (The total swapped amount is a bit higher, however this is what he got due to bridge fees).

Next he swapped the BNB a few hours later to BTCB (tx1, tx2); and then sold his BTCB to the Bitcoin Network.

What’s Next For Casper:

This is the question we all want to know, what is next?

Casper isn’t going to quit that easily…

We have come up with a list of steps to get back on the rocket. First off, we are going to finish up the Casper Tracker (we are in the process of getting a brand new UI & Assets).

Once we launch the Casper Tracker we will proceed to finish building CasperPad. CasperPad will be the platform were we will launch the new Casper Token.

In regards to the Casper Token contract, we will make sure our code is audited & checked by trusted devs in the community & other agencies.

After this is done and our new contracts are finished & safe, we will release an update about the new token launch.

Holders Compensation:

New Casper tokens will be airdropped to old holders; a list of addresses will be released soon.

We will also add a fee to pools for repayment. Fee’s collected from the pools will be sent to our wallet, and then distributed to all holders affected by this hack at the end of the week.

We’re going to pay back holders at $2.00 per Casper Token until we have paid everyone back.

Final Words

This attack has affected us all. It is a shock to the whole community. But we are here to help. If you need to talk please feel free to dm me.

Finally, I want you all to know that we are not forgetting about Mike. We have gathered tons of information on him (IP, Links, Wallets & More), and we have given him 12 hours to contact us or we will move forward with our FBI report. We will keep you fully updated on everything that happens.

Once again, I apologies for what has happened, however rest assured we will continue on our path to make Casper the number one portal of choice for all your Crypto needs.

To Mike:

We’re offering you a 10,000 bounty if you return the funds & we won’t release our report to the FBI.


National Suicide Prevention Lifeline: 800–273–8255



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