A yield farming project on BSC has been hacked for $31 million.
Their website, twitter account, and telegram channel are all down, suggesting a rug pull by creators.
The hackers are using DeFi avenues to move the stolen tokens.
Share this article
The BNB-BUSD yield farming “Vault 1” of the DeFi application Meerkat finance, a clone of Yearn Finance on Binance Smart Chain, was drained for $31 million this morning.
Meerkat Finance Hackers Tinker With Smart Contract
The hackers implemented a change in the ownership of the smart contract address on Meerkat Finance at 9 am UTC. Soon after, they began withdrawing from the smart contract to multiple addresses.