Hack history / 2021 / Rug pull
Meerkat Finance
Rug pull on Mar 4, 2021 · Admin Drain
SOURCES AGREE ON DATE AND LOSS · 4 SOURCES
Lost
$31M
dollars at the time
Returned
$31M
100% of the loss, as a source states it
Rank
#152
among thefts by dollars lost
What happened
Meerkat Finance was drained one day after launch on March 4, 2021 when vaults containing $31M were compromised. The attacker exploited permissionless proxy initialization to gain admin control and drain funds, with the team later launching a 95%+ refund program.
Details
- Date
- Mar 4, 2021
- Kind
- Rug pull
- Method
- Admin Drain
- How in
- Insiders: rug pulls, frauds, collapses
- Target
- DeFi protocol
- Chains
- BNB Chain
- Audit (rekt.news)
- unaudited
After the theft
- Recovered or frozen
- $31M
“$31.0M taken, $0K after recovery or freezing” (Web3 Is Going Great)
Related incidents
Cite this page
SwanBluechip, "Meerkat Finance rug pull, Mar 4, 2021: $31M lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/ht51ab589237/ (data as of 2026-10-31).