SynapLogic exploit analysis
SynapLogic's deployer-set `migrate` function let the deployer pull every depositor's principal at the moment of a large deposit. DeFiHackLabs reconstructs about 27.6 ETH plus 3,450 USDC drained.
- Occurred
- Logged
- Source
- DeFiHackLabs
Logged as “2026-01-20: Business Logic Flaw on SynapLogic”.
Analysis1 min read
SynapLogic's contract was an obvious backdoor / rug-pull pattern: the deployer reserved a migrate function that the project page advertised as a "cheap cheat contract" not for holding funds. The attacker, who was the deployer, called the migration against every depositor's principal at the moment a large deposit landed.
DeFiHackLabs reconstructs the sequence against the live Ethereum state. [The drain is in 0x... referenced by Tahax and others]. Total loss is approximately 27.6 ETH plus 3,450 USDC. The DeFiHackLabs entry notes the contract was a cheat by the design.
What would have prevented it: user-side, verify the contract's source and access-control list before depositing. There is no on-chain fix for a deployer-set rug.
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Updated 14 Oct 2026. Figures are as reported by the sources listed above and are not independently verified.
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