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Detail Analysis

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Date:

Status:

Count:

Contributor:

May 20, 2021

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Verified

2

zerofriction.io

Loss Amount:

45,000,000

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Recovered Amount:

-

Currency:

Dollars, BUNNY

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Binance Smart Chain

Protocol

Flash Loans

Extended Method:

Flash loan attack

Data Sources:

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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 dollars at around 6:35, and once fell below 2 US dollars, 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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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.