Sweat Economy (SWEAT Protocol)
Summary
Sweat Economy is a move-to-earn protocol on NEAR Protocol that rewards users with SWEAT tokens for physical activity, built on top of the Sweatcoin app which has over 120 million registered users. On April 29, 2026, the SWEAT token contract on NEAR was exploited via a Rust smart contract vulnerability, allowing an attacker to drain approximately 13.71 billion SWEAT tokens — roughly 65% of total supply — valued at approximately $3.5 million, within 30 seconds. The Sweat Foundation coordinated with MEXC exchange and Rhea Finance to freeze attacker funds and ultimately restored all external user balances, with a patched contract subsequently deployed.
Connected Entities
2 entities · 10 linked investigations- DvrSMfY85Anc6AuLUmoEDkDdab7qX5NUZLu76HN8NoPn→mentioned with→Sweat Economy (SWEAT Protocol)(50%)
Timeline(9 events)
2022-07-28
Sweat Economy raises $13 million in a private token sale led by Electric Capital, Spartan Capital, OKX Blockdream Ventures, Goodwater Capital, and GSR Ventures.
CoinDesk2022-09-12
SWEAT token generation event (TGE) launches on NEAR Protocol. Users can create in-app NEAR wallets and begin earning SWEAT tokens at a rate of 1,000 steps per token.
CoinGecko2026-04-29
At approximately 13:36 UTC, an attacker exploits a vulnerability in the NEAR-based SWEAT token contract using a purpose-built Rust drainer contract. Approximately 13.71 billion SWEAT tokens (65% of total supply, ~$3.46 million) are drained from foundation-linked wallets and the top 100 holder accounts within roughly 30 seconds. Blockchain security firm Blockaid detects and flags the exploit in real time.
The Block2026-04-29
Sweat Foundation pauses the SWEAT token contract immediately after detection. MEXC exchange freezes the attacker's account. Rhea Finance halts SWEAT trading on its NEAR-based liquidity platform.
CoinCentral2026-04-30
Initial news coverage of the exploit is published. Dollar value of drained tokens reported as between $2 million and $3.5 million across outlets.
Crypto Times2026-05-04
Full recovery of all external user balances confirmed. Sweat Foundation deploys a patched token contract and resumes normal operations. MEXC credited for enabling 100% fund recovery.
Outposts2026-05-01
SWEAT token reaches a new low of approximately $0.000177, reflecting post-exploit market pressure.
CoinLore Historical PricesDecision Log
- hash: 9G6GJtR3Q2bYVYoA8f1EKAf9yhHgoinz4csiDn3A74FX
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/15/2026, 12:19:35 PM
last updated: 6/15/2026, 12:19:43 PM
avoid.net — verified advice for a post-truth world