FairWin's smart contract has been emptied

The smart contract wallet of FairWin, a gambling game built on Ethereum which has been accused of being a 'Ponzi scheme,' has been emptied, according to data from Etherscan. There was approximately $3 million in ether in the contract prior to a series of withdrawals.

Transactions of Etherscan appear to show withdrawals of ether from the smart contract to multiple Ethereum addresses. It is unclear whether these withdrawals were from an attacker or simply the users of FairWin in a mad dash to take out their funds.


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The Block previously reported that three critical vulnerability was found in the game by Philippe Castonguay, an R&D researcher at Horizon Games. Castonguay told us that there were three main vulnerabilities he discovered, "one allowing the owner/admin of the contracts to totally drain [the smart contract containing $8 million in ether], one where the admin can prevent users from withdrawing forever and one where anyone, not just the owner, can steal new deposits." At that time, the smart contract contained over $8 million in ether.

In regards to today's withdrawal, Castonguay tells The Block that "it looks like people raced to withdraw their funds" but added that it is "hard to tell at this point."

About Author

Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

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