PancakeHunny is the latest project on Binance Smart Chain to be hacked

Binance Smart Chain has become a hotbed of attackers in the last month. In fact, many hackers have exploited DeFi protocols on BSC, with PancakeHunny being the newest target.

PancakeHunny was quick to admit the incident. Indeed, after report Project outline:

“On June 3, 2021 at 1:46 UTC. A smart contract was created to mine the Hunny Minter smart contract. The contract was then executed 91 times. “

While China reporter Colin Wu noted that at least 1.1 million people were detained, the preliminary report strangely states that all “funds are SAFU”. However, the incident affected HUNNY / BNB’s price.

The project continues to assure the community that:

“We have identified the problem and our developers are working on the FIX and moving forward with the next plan. We will update as soon as the full plan is available. “

A similar attack took place almost two weeks ago against another Binance Smart Chain DeFi project – PancakeBunny. This was the largest attack seen in May, with the same result that caused the project to lose more than 90% in value.

Source: Rect

At the time, the team discovered that it was a flash loan attack by an outside actor who had borrowed “a large amount” from Binance Coin (BNB) before manipulating the BUNNY price and shortly afterwards BUNNY / BNB rejected.

According to data compiled by Rekt, BSC DApps has so far lost $ 167 million to rapid loan attacks and other exploits. The attack on PancakeBunny cost the project $ 45 million, while second place went to the Spartan hack, which caused a loss of more than $ 30.5 million.

Although BSC teamed up with CipherTrace, a leading blockchain security and analytics company, shortly after the BurgerSwap attack, security seems to remain a major concern for projects built on Binance Smart Chain.

Annie

According to Ambcrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page