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ID:

pancakebunny-347

Date:

Status:

Incident Count:

May 20, 2021

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

Hexlant, Haechi, DeFiSafety

Loss Amount:

45,000,000

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Recovered:

-

Rewards:

Currency:

USD, BUNNY

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PancakeBunny, the DeFi revenue aggregator on Binance Smart Chain (BSC), suffered a lightning loan attack and lost 114,631.5421 WBNB and 697,245.5699 BUNNY, totaling approximately US$45 million. The price of the token BUNNY crashed from 240 US USD at around 6:35, and once fell below 2 US USD, with the highest drop of more than 99% at one time. First, the hacker borrowed more than $700 million in Binance Coin (BNB) from seven PancakeBunny lending pools, as well as almost $3 million in Tether (USDT) from another source. They used this to manipulate the price of BNB using a bug in PancakeBunny’s BNB-USDT liquidity pool, which allowed them to mint almost seven million BUNNY in a complex, six-stage process (which Bunny Finance details here). This was dumped for about 2.4 million BNB — which caused the price of BUNNY to crater. After repaying the flash loans, the hacker was left with 114,631 BNB worth about $45 million.

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