Decrypting MuskSwap: A web of Scams and Tracking Funds Through Tornado Cash

CertiK investigated an exit-scam campaign led by the MuskSwap deployer and linked projects that siphoned approximately $5.1M from investors. The actors used IDO SellTokenProxy contracts with privileged withdrawBNB functionality to extract BNB/BUSD/USDT, distributed proceeds across hundreds of wallets, laundered large amounts through Tornado Cash (often withdrawing immediately after deposits), and consolidated funds into Binance deposit addresses that CertiK reported. The report includes identified contract and wallet addresses, transaction patterns, and timing analysis linking deposits and withdrawals.